European shares mixed on Monday

European shares exhibited mixed trends on Monday, with investor confidence shaken by China’s stimulus plans. Focus shifted towards the earnings season and the European Central Bank’s (ECB) policy meeting scheduled for later this week.

By 6:34 ET (10:34 GMT), the pan-European STOXX 600 index was down 0.04 per cent. Germany’s DAX gained 0.33 per cent, while France’s CAC 40 fell by 0.37 per cent. Switzerland’s SMI experienced a modest rise of 0.33 per cent. In the UK, London’s FTSE 100 dropped 0.11 per cent, while Spain’s IBEX 35 increased by 0.35 per cent.

Looking ahead, the ECB is widely expected to implement a 25 basis point interest rate cut on Thursday, with traders assigning a 99 per cent probability to this move. This comes as recent data suggests that the euro zone economy is in a weaker state than during the ECB’s last meeting, prompting money markets to almost fully anticipate another rate reduction in December.

Attribution: investing.com, Amwal Al Ghad English, Reuters

Subediting: M. S. Salama