European stocks dive following ECB caution
On Monday, European shares sagged amid downbeat German economic data, not to mention a recent warning that global central effectiveness worsened sentiment ahead of the ECB’s highly anticipated policy decision later on this week.
The Stoxx Europe 600 sagged 0.5%, trading at 6,168.30, and only the healthcare sector dared to soar. On Friday, the index closed +0.7%, thus marking a 3.1% week’s surge.
As for Monday’s individual movers, stocks of Électricité de France S.A. gave a 7.5% slump. Thomas Piquemal, French utility’s chief financial officer, resigned because of concerns that an 18 billion pounds project to build new nuclear reactors in Great Britain could threaten EDF’s financial stability.
EU trading got underway with an update that German manufacturing orders in Germany dived 0.1% from December. In spite of the fact, it appeared to be smaller than expected, showing a 0.4% sag, the report underscored weakening trends in the EU’s largest economy and German DAX 30 slumped 0.8%, trading at 9,750.96.
By the way,on Thursday, sluggish growth as well as flat inflation rates across the eurozone will be addressed by the ECB.