European shares edge lower ahead of Christmas holiday break

European shares rise as investors hope for more stimulus

By Ritu,

Capital Sands

European shares dipped slightly on Monday after nearing a record high in the previous session, as trading thinned ahead of the Christmas and Boxing Day holidays later in the week.

The pan-European STOXX 600 index was down 0.1% at 0814 GMT, with the banking sector  leading declines.

An improving outlook on the global economy and optimism around a smoother Brexit had sent European equities to an all-time high last week, with the benchmark index logging its biggest weekly gain in two months.

But with an initial U.S.-China trade deal unlikely to be signed this year, and British Prime Minister Boris Johnson’s willingness to take a hard line on future Brexit negotiations, analysts said stocks had little reason to move much from current levels.

A 3% decline for Italian infrastructure group Atlantia  pressured the wider country index .

On Saturday, a report said the Italian government had provisionally approved a document to make it easier to revoke concessions to operate motorways. The decree does not mention Atlantia, but a government source told Reuters that the measures could be applied to it.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.


Leave a Reply

Your email address will not be published. Required fields are marked *

*
*