European stocks fell on Monday, under pressure from a decline in real estate stocks, at a time when sentiment was affected after senior officials in the European Central Bank reduced the possibility of cutting interest rates soon.
The European STOXX 600 index fell 0.3% by 0811 GMT, after recording its fifth consecutive weekly gain on Friday in the longest series of gains since April.
Real estate shares fell 0.9%, while telecommunications sector shares increased 0.3%, supported by a 4.3% rise in Vodafone shares after a proposal from Iliad to merge their businesses in Italy.
Meanwhile, Reuters reported that ECB policymakers were keen to keep the high interest rate message out longer into March, making it unlikely any cut decisions would be made before June.
Over the course of the week, investors will await consumer prices in the euro zone for November, as well as the decision of the Bank of Japan, and the November reading of the personal consumption spending index, which represents the preferred inflation measure of the Federal Reserve (the US central bank).
2023-12-18 09:43:33
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