Stocks in Europe opened lower on the first day of the trading week, as market participants focus on the release of some macroeconomic releases which includes services Purchasing Managers’ Indices (PMI) from countries in the euro area.
The pan-European Euro Stoxx 50 dropped 0.27% lower to 3,068.50, while the French CAC 40 declined 0.16% opening at 4,240.50 at the time of writing. At the same time, Germany’s DAX index edged 0.19% lower to 9,417.30, while the UK FTSE 100 dropped 0.10% to 6,723.30.
Shares in the Asian region declined, with the Japanese benchmark Nikkei 225 dragged lower by the stronger yen, while equities in China dropped due to drop in the China’s service sector.
Meanwhile in the US, the Institute for Supply Management’s (ISM) non-manufacturing data for December is expected to be released later in the day, with predictions of a rise to 54.5 points according to analysts.
The statistical office in Germany, Destatis is expected to release the preliminary consumer inflation data for December, with predictions that figures for the Consumer Price Index (CPI) would have risen from 0.2% to 0.4%.
In Spain, analysts are forecasting the country’s service PMI to have slightly climbed to 51.6, while Germany and France’s services PMIs are expected to remain the same at 54.0 and 47.4 respectively. The service sector for the euro-area as a whole is predicted to remain unchanged from its current level of 52.1 points.
On Thursday, the Bank of England (BoE) and the European Central Bank (ECB) are expected to finalize decisions over the monetary policy. Analysts are predicting interest rates to remain unchanged.
In China, the HSBC services Purchasing Managers Index (PMI) dropped to 50.9 in December, compared to 52.5 points recorded in the previous month, data from Markit Economics and HSBC Holdings confirmed.
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