European shares muted with energy shares biggest drag
2023.11.27 03:56
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, November 21, 2023. REUTERS/Staff/File Photo
(Reuters) – European shares were muted on Monday, with lower oil prices dragging down energy shares, ahead of comments from European Central Bank’s President Christine Lagarde on monetary policy before a committee of European Parliament.
The pan-European index was flat by 0820 GMT, while 100 slid the most among European peers.
Energy shares were down 0.8% after prices fell toward $80 a barrel, as investors awaited the OPEC+ meeting due later this week for an agreement to curb supplies into 2024. [O/R]
All eyes will be on Lagarde, who will be speaking at 1400 GMT before the Committee of Economic and Monetary Affairs of the European Parliament to give an assessment on the region’s monetary policy.
Euro zone’s flash inflation estimates and manufacturing data for November will be the key data points on investors’ radar this week.
Shares of airports management firm ADP hit a near one-month low at 5.9% to slip to the bottom of STOXX index.
UK’s Rightmove (OTC:) was the top gainer, rising 5.5%, after the property portal lifted its forecast for annual average revenue per advertiser.
