European stock markets showed a lack of clear direction on Monday as investors awaited important speeches from key European Central Bank figures, including President Christine Lagarde, for insights on the future of interest rates.
Concerns remained over the possible impacts of U.S. President-elect Donald Trump’s global economic policies, which contributed to a cautious market sentiment.
The pan-European STOXX 600 index fell by 0.3% to 501.67, following a decrease of 0.8% on the previous Friday. Both the German DAX and France's CAC 40 slipped around 0.2%, whereas the UK's FTSE 100 edged up by 0.1%.
The EUR/USD pair stabilized above 1.0500, with traders looking ahead to critical regional inflation data and the eurozone's November flash PMIs, which are expected later in the week.
Nvidia, currently the world's most valuable company by market capitalization, is set to announce its third-quarter results on Wednesday. Investors are keenly watching for indications regarding the demand for its Blackwell AI chips.
In corporate news, Dutch technology investor Prosus saw a 1.2% increase in shares, and Naspers, the parent company of Takealot and Media24, among others, rose by 1.6% after reporting better-than-expected interim earnings.
Melrose Industries, which owns aerospace parts manufacturer GKN Aerospace, surged 9% in London following a 7% revenue increase for the four months ending October 31, while reiterating its positive outlook for the remainder of the year.
AstraZeneca dropped over 1% despite obtaining EU approval for its lung cancer drug. Meanwhile, Elementis gained 1% as the specialty chemicals company announced that CEO Paul Waterman would be stepping down after nine years at the company.
Shares of Vivendi SA fell about 1%. The French media group announced its projections for Canal+, its audio-visual content division, and public relations firm Havas SA, both of which are scheduled for listing next month.
