Investing.com – European equity markets slipped slightly lower on Monday, the last full day of trading in 2024, as investors cashed in on bank gains at the end of a generally positive year for regional markets.
At 04:35 ET (09:35 GMT), Germany traded mostly flat, France slipped 0.1% and the UK fell 0.3%.
European trading subdued
European trading is expected to be quiet on Monday as markets prepare to relax for the New Year holidays, with many European indexes closing early on Tuesday.
The pan-European index traded marginally lower on Monday but is still on track to gain around 5.5% this year, with Germany’s DAX up more than 19%, the FTSE 100 up 5%, while the CAC 40 was worse, it fell by 2.6%.
Spanish inflation is rising
Data released earlier on Monday showed Spain’s annual compliance with the EU rose to 2.8% in December, up from the 2.4% figure recorded in November.
Lower interest rates earlier this month hinted at further cuts as economic growth stagnates in the region.
However, the next interest rate cut could be delayed after the recent rise in inflation, ECB Governing Council member Robert Holzmann said on Saturday.
“At the moment I don’t see an increase in interest rates. But it could happen that it takes more time until the next interest rate cut,” Holzmann told the Austrian newspaper Kurier.
accelerated in November to 2.2% from 2.0% a month earlier and above the ECB’s target rate of 2%.
Siemens Healthineers is down
In the European corporate sector, Siemens Healthineers (ETR: ) shares fell 1% after Siemens (ETR: ) Chief Financial Officer Ralf Thomas told the Handelsblatt newspaper that the German technology group is reviewing its majority stake in its medical technology unit.
Crude price falls ahead of Fed meeting
Crude oil prices were slightly lower on Monday in light trade influenced by the holiday at the start of the final week of the year.
By 04:35 ET, U.S. crude futures (WTI) were down 0.1% at $70.53 a barrel, while the contract was down 0.1% at $73.69 a barrel.
Both benchmarks are on course for big losses in 2024, with the WTI contract down about 1.5% and Brent down more than 4% year to date, largely on concerns about slowing demand in China, the world’s biggest oil importer .
