© Reuters. The German DAX stock index at the Frankfurt Stock Exchange on November 14, 2023 in a Reuters photo.
(Reuters) – European stocks fell on Monday, pressured by a decline in real estate stocks, at a time when sentiment was affected after senior officials at the European Central Bank reduced the possibility of cutting interest rates soon.
The European index fell 0.3 percent 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 percent, while telecommunications sector shares increased 0.3 percent, supported by a 4.3 percent rise in Vodafone shares (LON:) after a proposal from Eliad 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 region 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).
(Prepared by Marwa Gharib for the Arabic Bulletin – Edited by Sameh Al-Khatib)
2023-12-18 09:27:00
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