European stocks showed a subdued performance on Monday, as investors awaited key inflation data from the Eurozone, expected to be released this week. This data will provide significant insights into the likely timing of future interest rate cuts.
The discourse planned by Christine Lagarde, the ECB President, and data release from the U.S., particularly those related to the housing sector, will potentially sway trading sentiment later in the day.
The euro witnessed an upswing against its chief competitors, following a declaration by Yannis Stournaras from ECB, ruling out potential rate cuts in March.
Core measure of personal expenditure prices, which the U.S. Federal Reserve prefers, along with inflation reports from Spain, Germany, and France are slated for Thursday.
The pan-European STOXX 600 recorded a slight decrease by 0.3 percent at 495.75, following a 0.4 percent increment on Friday. DAX in Germany experienced a minimal downfall, while CAC 40 in France and FTSE 100 in the U.K saw a drop by 0.4 percent and 0.3 percent respectively.
Shares of Sweden's Pagero Group AB slid approximately 1 percent following an announcement of its acquisition by Thomson Reuters Corp. for a recommended public offer worth about $800 million or 8.1 billion Swedish Kronor.
Ryanair's shares appreciated more than 1 percent following rumors that the Irish budget airline may inflate peak summer airfares within Europe by up to 10 percent.
Stellantis N.V., the automaker, suffered a decrease of 1.1 percent after announcing a deal with fleet managing and leasing company Ayvens to supply 500,000 automobiles across Europe by 2026.
Anglo American and Glencore, the miners, registered a drop between 1-2 percent as concerns over demand from China led to a decline in copper prices.
Shares of biopharma titan AstraZeneca rose by 1.3 percent following European regulators' approval of its blood-disorder medication, Voydeya.
Bunzl saw its shares plummet nearly 5 percent. The distribution company disclosed an agreement signed to acquire Nisbets in the U.K. and Pamark in Finland.
Persimmon and Barratt Developments, the homebuilders, experienced a decrease in their shares by approximately 2 percent and half a percent, respectively, in light of the investigation into the sector by the competition watchdog.
