European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday.
The pan-European Stoxx 600 was last down by 0.3%, with regional indexes largely trading in negative territory. Germany's DAX and France's CAC 40 were last each down by around 0.5%. U.K. markets were closed for a public holiday.
Investors on Monday closely watched shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode Island, threatening Orsted's plans to raise capital.
Orsted shares tumbled to start the trading day and were last down by around 15%.
Elsewhere, U.S. beverage company Keurig Dr Pepper said Monday that it would buy Dutch coffee company JDE Peet's for 15.7 billion euros ($18.4 billion). Shares in JDE Peet's jumped as high as 17% soon after trading began in Europe.
Investors also continued to weigh the economic outlook after Federal Reserve Chairman Jerome Powell on Friday suggested the central bank may soon opt to cut interest rates. Last week, markets had also considered fresh details on the U.S.-European Union trade agreement, which provided some much sought after clarity to sectors such as pharmaceuticals.
The week ahead is set to begin relatively quietly on the economic data front before the release of a raft of inflation figures from France, Germany, Italy and other key European countries on Friday. Investors will also be following the latest key earnings from across Europe and further afield, with drinks maker Pernod Ricard and tech giant Nvidia among those expected to report.
Source : CNBC
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