By Investors Hub
European stocks have moved mostly lower on Monday as a slew of factors such as weak data from China and Japan, Italy’s budget dispute with the European Union and heightened trade worries has sapped investors’ appetite for risk.
French President Emmanuel Macron is set to hold talks with trade unions and employers’ organizations today in a bid to defuse weeks of unrest in Paris and other cities over rising gas prices and taxes.
Elsewhere, the European Court of Justice ruled the British government could reverse its decision to leave the bloc without the permission of the other EU members.
A vote on Brexit is scheduled in Parliament for Tuesday. After the vote, U.K. Prime Minister Theresa May goes to Brussels on Thursday for a summit of national leaders.
The pan-European Stoxx Europe 600 Index has fallen by 0.6 percent after rising 0.6 percent on Friday. The German DAX Index and the French CAC 40 Index are also down by 0.4 percent and 0.4 percent, respectively, although the U.K.?s FTSE 100 Index is bucking the downtrend.
Automakers BMW, Daimler, Renault and Peugeot have shown notable moves to the downside on worries over potential U.S. tariffs. Tech stocks are also under selling pressure.
Outsourcing company Interserve has also plunged after the company confirmed it is in talks with its lenders on a debt reduction plan.
In economic news, German exports increased a calendar and seasonally adjusted 0.7 percent in October after falling 0.4 percent in September, official data showed. Economists had forecast a 0.4 percent increase.
Imports rose 1.3 percent monthly after stagnation in the previous month. Economists were looking for a 0.5 percent gain.
Research house Sentix said its investor sentiment index for the euro zone slumped to a four-year low of -0.3 in December from 8.8 in November.
France’s economy is set to expand at a slower rate in the fourth quarter than estimated earlier, survey data from Bank of France showed. The bank downwardly revised its growth forecast for the fourth quarter by 0.2 percentage points to 0.2 percent.
U.K GDP growth slowed to 0.4 percent in the three months to October from 0.6 percent in the third quarter of 2018, official data showed.
Adedapo Adesanya