Stocks, economic data, business news

European markets opened in negative territory on Monday, marking the last full trading session of the year.

The pan-European Stoxx 600 index was down about 0.4% shortly after the opening bell, with all sectors and major bourses in negative territory. Industrials, media and technology stocks led the losses.

Trading in Europe is expected to be halted on Monday as markets prepare for the New Year holiday.

In flash guess Published on Monday, Spain’s National Institute of Statistics (INE) said EU-adjusted annual inflation rose to 2.8% in December from 2.4% in November.

This figure was higher than the 2.6% forecast by analysts in a Reuters poll.

Spain’s core inflation – excluding fresh food and energy prices – rose 2.6% on an annual basis, INE estimates showed.

The update was followed by European Central Bank Executive Board member Robert Holzmann This was reported by Austrian newspaper “Kurier”. over the weekend, the institution may slow its rate-cutting campaign thanks to sticky inflation.

“I don’t see interest rate increase at the moment. “What could happen is that it will take longer before the next rate cut.”

His comments came as Italian lawmakers adopted the 2025 budget of their governmentaiming to bring the country’s fiscal deficit closer to 3% To comply with EU regulations.

France’s newly appointed finance minister Eric Lombard told the news agency in an interview published on Saturday. La Tribune Sunday According to the translation of the Reuters news agency, the country’s expected budget bill for 2025 will target a deficit of just above 5%.

Overnight in Asia stocks were mixed investors followed political unrest in South Korea as well as industry data outside the country. Japan also released economic data earlier in the week that showed a contraction in factory activity slowed this month.

Shares of Korean airlines fell on Monday after the incident Jeju Air plane crash The share price of Jeju Air, which killed 179 people the day before, hit an all-time low.

Meanwhile, New York stocks Boeing – crashed 737-800 series jets – down about 4.5% in premarket trading on Monday. South Korean authorities are ready for this to investigate Authorities are trying to determine the exact cause of the accident reported plans to inspect all Boeing 737-800 aircraft as part of its investigations.

— CNBC’s Lee Ying Shan and Reuters contributed to this roundup of European markets.