211

European shares edge lower

On Monday, European stocks traded lower amid surging hopes for an American rate rise before the end of the year and as traders eyed the publication of euro zone inflation data later in the trading session.

During European morning trade, the EURO STOXX 50 tumbled 0.09%, French CAC 40 sagged 0.02%, while German DAX 30 descended 0.08%.

Friday’s positive American retail sales as well as producer price data contributed to hopes for an approaching American rate lift after the minutes of the Fed’s September policy gathering showed last week that several voting members were assured that a rate lift would be warranted soon if the US didn’t  stop growing.

Financial stocks showed mixed performance, as French lenders BNP Paribas along with Societe Generale ascended 0.02% and 0.03% respectiely, while German Commerzbank and Deutsche Bank dipped 0.11% and 1.31%.

As for peripheral lenders, Italian Intesa Sanpaolo  and Unicredit earned 0.61% and 1.80% respectively. Additionally, Spanish bank Banco Santander dropped 0.32%.

Scroll to top