Europe open: Shares lower on final full day of trading
European shares opened lower on the last full day of trading for 2024.
The pan-regional Stoxx 600 index was down 0.37% at 505 points in early deals after a broadly weaker session in Asia overnight. US futures were also indicating a lower start.
“European markets are set to open lower, with a quiet week ahead offering little in the way of economic data or corporate news to drive sentiment,” said Hargreaves Lansdown analyst Matt Britzman.
“US stock futures dipped on Monday as Wall Street gears up for the final trading week of the year, with 2024’s gains pretty much in the bag. The surging S&P 500 and Nasdaq underscore the market's tech-fuelled triumph, though last Friday's sell-off, triggered by climbing Treasury yields, was a sobering reminder of lingering rate concerns.”
“Adding to the mix, Treasury Secretary Yellen’s debt ceiling warning and upcoming economic data may keep traders on edge as the year comes to an end.”
With a dearth of corporate news, there was little to drive shares. UK online supermarket delivery and warehouse tech company Ocado led the fallers, down more than 3%, while Lufthansa flew higher with a gain of 1.7%.
Reporting by Frank Prenesti for Sharecast.com