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Europe stock markets open mixed after a strong week

written by Bella Palmer
europe-stocks

The regional Stoxx 600 index was up 0.04 per cent shortly after the open

European markets saw a cautious open on Monday following a strong week, as the slew of Q3 earnings slows down.

The regional Stoxx 600 index was up 0.04 per cent shortly after the open. Health-care stocks dropped 0.57 per cent as oil and gas led gains, up 0.7 per cent.

The Stoxx jumped 2.82 per cent last week, as per LSEG data.

Figures showed inflation coming down sharply, with U.K. price rises slowing to 4.6 per cent in October from 6.7 per cent in September. Euro zone inflation was confirmed at 2.9 per cent, down from 4.3 per cent the previous month.

U.S. inflation came in flatter than in September, cooler than estimates. Expectations that the Fed is finished with rate hikes prompted strong U.S. stock gains last week, as the S&P 500 and DJIA marked a three-week positive streak.

The U.S. dollar dropped to a two-month low Monday, according to Reuters, as speculations on a rate cut as soon as March intensifies.

In Asia-Pacific markets, Japanese stocks briefly reached a 33-year high during Monday’s session, though they pared some gains. Investors also evaluated news that China left its benchmark lending rates unchanged.

In the U.S., trading will be shortened this week because of Thanksgiving.

European stocks were mixed early Monday, with the Stoxx 600 0.09 per cent lower at 8:33 a.m. in London.

The U.K.’s FTSE 100 and Germany’s DAX were 0.3 per cent and 0.2 per cent down, respectively, while France’s CAC 40 was up 0.2 per cent.

Retail stocks led gains, up 0.75 per cent, on a week in which strong sales are expected as consumers snap up Black Friday sales.

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