LONDON — European markets opened lower Monday early morning as international stocks stop briefly for breath following a bumper month on the back of favorable vaccine news.
The pan-European Stoxx 600 moved 0.5% in early trade, oil and gas stocks shedding 2.3% to lead losses as all sectors other than health care moved into unfavorable area.
European stocks are set for a blended handover from Asia-Pacific, with mainland Chinese shares leading gains after China’s National Bureau of Statistics revealed Monday that the main production Purchasing Managers’ Index (PMI) for November was at 52.1, surpassing expectations.
Stateside, stock futures dipped in over night trading with Wall Street still set to liquidate a record-breaking month of gains.
Back in Europe, talks in between the U.K. and the European Union are heading into a “very significant” week, British Foreign Minister Dominic Raab stated Sunday, with time going out for the 2 sides to straighten out remaining disputes over their post-Brexit trading relationship.
Meanwhile, financiers will have one eye on today’s conference of OPEC and allies, led by Russia, with the group of significant oil-producing nations set to pick whether to extend big production cuts into 2021.
In business news, the Financial Times reported on Saturday that HSBC is thinking about leaving its U.S. retail banking operations in a quote to enhance efficiency in its North American service.
European Central Bank President Christine Lagarde is because of speak at 11: 30 a.m. CET and initial inflation information is due from Spain, Italy and Germany on Monday.