European stock markets drop ahead of economic data releaseswritten by Bella Palmer
The DAX index in Germany traded 0.1 per cent down, the CAC 40 in France traded largely flat, while the FTSE 100 in the U.K. dropped 0.2 per cent
European stock markets traded mostly down Monday, with investors on edge at the beginning of a week that includes a string of important economic data.
At 08:15 GMT, the DAX index in Germany traded 0.1 per cent down, the CAC 40 in France traded largely flat, while the FTSE 100 in the U.K. dropped 0.2 per cent.
Stock markets across the world have generally had a good month so far - with the DAX in Europe nearly 9 per cent higher, Japan's Nikkei over 8 per cent higher so far in November, as is the broad-based S&P 500 in the U.S., its best performance since mid-2022.
Given the extent of these gains, it is probably no surprise that the approach of the month's end has generated some caution.
Adding to the nerves Monday is the knowledge that the upcoming week is set to include the release of a number of important economic data that could guide central bank thinking ahead of the round of policy-setting meetings in December.
Data on EU inflation is due on Thursday, along with measures for Germany and Spain. Core EU inflation is predicted at 3.9 per cent, the lowest since the middle of 2022, which could raise expectations that the ECB has reached the end of its rate-hiking cycle.
ECB President Christine Lagarde is scheduled to speak at the EU parliament later Monday, and her comments will be viewed carefully for hints on future policy.
The Fed's favoured measure of inflation - personal consumption expenditures (PCE) - is also due on Thursday, as are on key purchasing managers index (PMI) data from China for November, due Thursday.
The data slate is largely empty in Europe Monday, with only the U.K.’s CBI distributive trades survey for November of note.
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