© Archyde.com. A screen showing the German DAX index on the Frankfurt Stock Exchange, with a photo from the Archyde.com archive.
(Archyde.com) – European stocks fell on Monday in cautious trading ahead of the publication of data on business activity amid concerns regarding the economic slowdown in the European Union.
Stocks posted gains for the seventh consecutive week on Friday, supported by China’s easing of COVID-19 restrictions following protests once morest the country’s strict “zero Covid” policy and easing concerns regarding raising interest rates.
The European index fell 0.2 percent at 8:06 am GMT on Monday, with technology stocks and industrial stocks recording the biggest drop in the index.
Final services PMI figures are expected to be released at 9 am GMT and are likely to show a continued slowdown in economic activity in the region in November.
At the same time, British mobile phone operator Vodafone Group (LON:) shares rose 1.6 percent in early trading.
The company had said Chief Executive Officer Nick Reed would step down at the end of this year and be replaced on an interim basis by Chief Financial Officer Margherita Della Valle.
(Prepared by Ahmed Sobhi for the Arabic Bulletin – Edited by Mahmoud Abdel-Gawad)