European markets are set to open in mixed territory on Monday, which will be the region’s last trading session of the year.
London FTSE 100 the index is forecast for 10 points lower at 8,127, according to IG, while the French CAC 40 it is expected to add 67 points to open at 7,350. German DAX is expected to open 34 points lower at 19,949, IG data show.
European trading is expected to be quiet on Monday as markets prepare to relax for the New Year holidays.
During the weekend, member of the Governing Council of the European Central Bank, Robert Holzmann he told the Austrian newspaper Kurier that the institution could slow down its rate-cutting campaign thanks to sticky inflation.
“I don’t see interest rates going up right now,” he said. “However, what could happen is that it takes longer until the next rate cut.”
His comments came as Italian MPs passed their government’s budget for 2025whose goal is to bring the country’s fiscal deficit closer to 3% in order to comply with EU rules.
In an interview published on Saturday, newly appointed French Finance Minister Eric Lombard told the newspaper La Tribune Dimanche the country’s upcoming 2025 budget law would target a deficit of just above 5%, according to a translation by the Reuters news agency.
On the economic front, Spain will release its latest inflation data on Monday and Turkey will update its economic confidence index.
Overnight in Asia, stocks were mixed while investors followed political turmoil in South Korea as well as industrial data outside the country. Japan also released economic data earlier in the week that showed a contraction in factory activity slowed this month.
Shares of Korean airlines fell on Monday after Jeju Air plane crash which killed 179 people the day before, and Jeju Air’s share price fell to an all-time low.
— CNBC’s Lee Ying Shan and Reuters contributed to this roundup of European markets.
