stocks, news, data and earnings
Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023.
Nathan Laine | Bloomberg | Getty Images
The pan-European Stoxx 600 was down 0.8% by 10:40 a.m. London time, with all major bourses and the vast majority of sectors in the red. Mining stocks stocks losing 2.3% while utilities goods were the biggest gainer, adding 0.3%.
Banking stocks shed 2.3%, with Italy’s UniCredit and Spain’s BBVA both losing more than 4%, as investors look ahead to the European Central Bank’s latest interest rate decision later this week.
Shares of Maersk, meanwhile, climbed to the top of the benchmark, adding 2.1% before dipping slightly, after the Danish shipping giant raised its full-year profit guidance on strong market demand and continued Red Sea disruptions.
The ECB is widely expected to cut interest rates for the first time since 2019, when policymakers meet on Thursday, but investors will watch closely to see whether a slightly higher-than-expected euro zone inflation print released Friday will affect the bank’s forthcoming decision.
On the data front, Germany releases its latest unemployment figures for May on Tuesday.
Overnight in the Asia-Pacific region Tuesday, India stocks slumped to lead regional markets lower as the country started counting votes for its 2024 general election.
The world’s most populous country started counting votes at 8 a.m. local time, with Prime Minister Narendra Modi projected to win a rare third consecutive term as per the exit polls.
U.S. stock futures were little changed on Monday evening as Wall Street looked to find its footing after an uneven start to the month.
This article was originally published by a www.cnbc.com
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