Europe open: Shares lower as investors mull EU/UK deal; await France, Spain CPI
European stock markets fell at the open on the last day of February as investors scrutinised the latest version of the UK-European Union trade deal covering Northern Ireland, another earnings dump and awaited regional inflation data.
The pan-European Stoxx 600 index was down 0.39% at 0820 GMT with all regional bourses lower. US stocks ended Monday higher, but gave back most of the session’s earlier gains as rate hike fears continued to weigh on sentiment.
UK Prime Minister Rishi Sunak and European Commission President Ursula von der Leyen on Monday unveiled a deal on post-Brexit trade arrangements for Northern Ireland – a source of huge tension over the only British territory that has a land border with the 27 nation bloc.
Investors were also eyeing consumer price data from France and Spain.
In equity news, UK online grocer Ocado slumped as annual losses widened due to a profit wipeout at its retail unit, run jointly with Marks & Spencer.
Building materials supplier Travis Perkins fell as a tough housing market sent profits lower.
Asset manager MAN Group gained on better annual cash inflows.
Reporting by Frank Prenesti for Sharecast.com