European Markets Open Lower As First Trading Day Of September Kicks Off
European stocks dipped on Monday as the first trading day in September kicked off and investors considered the outlook for markets.
The pan-European Stoxx 600 was last down by 0.1% at 8:05 a.m. London time, with most regional bourses and sectors pulling back. Mining stocks were last 1.24% lower.
Shares in real estate listings company Rightmove soared as much as 24% after its Australian rival REA Group said it was considering making an offer for for the U.K.-based platform.
Regional markets closed higher last Friday, the last trading day of August, as investors considered inflation data from around the world and expectations rise that the U.S. Federal Reserve will begin interest rate cuts in September.
Data released last week showed the Fed's preferred inflation gauge, the personal consumption expenditures price index, rose 0.2% on a monthly basis in July and 2.5% from a year ago. The result was in line with estimates from economists polled by Dow Jones. Excluding food and energy, it also rose 0.2% from the prior month. The data is likely to influence policymakers' rate decision in September.
Source : CNBC
