European Stocks Start December on a Cautious Note
The STOXX 50 closed little changed at 5,669, while the STOXX 600 slipped 0.2% to 575 on the first trading day of December, as traders began the month cautiously following a choppy November that produced only modest gains for both indexes.
Airbus shares tumbled 5.7%, after falling more than 10% intraday, following reports of a new quality issue affecting dozens of A320-family aircraft. This development comes shortly after Airbus announced that the majority of other planes impacted by a software glitch had received the necessary modifications. The defense sector also came under pressure amid hopes for progress on a Ukraine peace deal, with Rheinmetall (-2.4%), Rolls-Royce (-1.3%), and BAE Systems (-2.1%) all finishing lower.
On the upside, ASML Holding gained 2.6% after Fitch affirmed the company’s rating, citing its strong market position. Fresnillo outperformed the STOXX 600, rising 4.7%, while other miners also posted gains, including Anglo American (1.4%) and Glencore (2.1%).
Source: Tradingeconomics.com
