European stock markets exhibited stability, seeing minor gains on Monday, as investors anticipated the inauguration of Donald Trump as the U.S. President scheduled later in the day.
Trading activity was muted due to Martin Luther King Jr. Day, a public holiday in the United States.
In an otherwise uneventful economic backdrop, data from Destatis revealed that Germany's producer prices accelerated in December, primarily driven by increased prices for capital goods. The producer price index experienced an annual increase of 0.8 percent, a rise from the 0.1 percent gain recorded in November, marking the second consecutive month of growth.
The pan-European STOXX 600 index showed a modest increase of 0.1 percent, reaching 524.17, with banks and technology stocks leading the advance.
Last week, the benchmark index noted a more than 2 percent rise, fueled by optimism surrounding potential rate cuts by the Federal Reserve and the European Central Bank. While Germany’s DAX edged slightly lower, France’s CAC 40 and the U.K.’s FTSE 100 both increased by 0.2 percent.
Germany’s Siemens Energy saw its shares decline by 2.5 percent following a downgrade to "sell" by UBS. Meanwhile, Telefonica experienced a 1.7 percent drop after announcing the completion of a €5.5 billion refinancing of its primary syndicated credit facility.
In contrast, the U.K.’s John Wood Group gained over 2 percent upon securing a significant maintenance contract in Victoria's Gippsland Basin. Additionally, digital payments company Bango surged by 6 percent, buoyed by robust financial growth reports for 2024.
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