Investing.com – European stock markets fell slightly on Monday, the last full trading day of 2024, as investors took profits at the end of a generally positive year for regional markets.
At 04:35 EST (09:35 GMT), the index in Germany was trading largely flat, the index in France was down 0.1%, and the index in the UK was down 0.3%.
Silent European trade
Trading is expected to be quiet in Europe on Monday, as markets prepare to wind down for the New Year holidays, with many European indices closing early on Tuesday.
The pan-European index fell marginally on Monday, but is still on track for a gain of about 5.5% this year, with Germany's DAX up more than 19% and the FTSE 100 up 5%, while the CAC 40 has underperformed, with Decreased by 2.6%. %.
High inflation rates in Spain
Data released earlier on Monday showed that Spain's EU-aligned annual inflation rate rose to 2.8% in December, compared to 2.4% recorded in November.
The interest rate cut earlier this month was a signal of further cuts to come as economic growth stagnates in the region.
However, the next rate cut may be longer after the recent rise in inflation, European Central Bank Governing Council member Robert Holzmann was quoted as saying on Saturday.
“I don't see any rise in interest rates at the moment. But what could happen is that it takes more time until the next rate cut,” Holzmann told the Austrian newspaper Kurier.
Inflation accelerated in November to 2.2% from 2.0% in the previous month and above the European Central Bank's target rate of 2%.
Siemens Health professionals are located
In the European corporate sector, Siemens Healthineers (ETR:) fell 1% after Siemens (ETR:) CFO Ralf Thomas told newspaper Handelsblatt that the German technology group is reviewing its majority stake in its medical technology unit.
Oil prices decline ahead of the Fed meeting
Crude oil prices fell slightly on Monday amid weak holiday-impacted trading at the start of the last week of the year.
By 04:35 EST, US crude futures (WTI) were down 0.1% at $70.53 per barrel, while the contract was down 0.1% at $73.69 per barrel.
Both benchmarks are headed for heavy losses in 2024, with the WTI contract down about 1.5% and Brent crude more than 4% so far, largely due to concerns about slowing demand in China, the world's largest oil importer.
