European shares start off data-heavy week on solid footing
2025.01.06 03:36
(Reuters) – European shares opened higher on Monday, boosted by advancing technology and bank stocks in a week packed with economic data around the world including inflation readings in Europe and jobs data in the United States.
Europe’s premier index, the added 0.3% as of 0810 GMT, taking cues from an upbeat close on Wall Street on Friday. [.N]
Technology led gains amongst the major STOXX sub-sectors, adding almost 2%, while banks rose 0.7%.
The data calendar for the week was heavy with inflation readings across Europe slated to be released throughout the week, starting off with a December German inflation reading due later in the day.
Final figures of December services activity across major European economies and a broader euro zone one will also be released throughout the day.
This week’s centrepiece would be the December U.S. nonfarm payrolls report due on Friday, a crucial metric in gauging the Federal Reserve’s interest rate path for 2025.
Among individual movers, UK’s Spectris (LON:) gained 3.3% after HSBC upgraded its rating on the scientific instruments maker to “buy” from “hold”.
Trading volumes are likely to improve this week as most market participants would return after two weeks of holiday-affected trading.
