(Alliance News) - Stock prices in Europe opened mostly lower, ahead of an important week of central bank decisions and economic data.
The FTSE 100 index opened up 12.28 points, 0.2%, at 7,647.37. The FTSE 250 was down 82.16 points, 0.4%, at 19,255.86, and the AIM All-Share was down 0.97 of a point, 0.1%, at 749.73.
The Cboe UK 100 was down slightly at 763.55, the Cboe UK 250 was down 0.6% at 16,710.33, and the Cboe Small Companies was down 0.1% at 14,937.13.
In European equities on Monday, the CAC 40 in Paris was down 0.1%, while the DAX 40 in Frankfurt was down 0.3%.
The economic calendar for this week has the US Federal Reserve announcing its latest interest rate decision on Wednesday at 1900 GMT, followed by the Bank of England on Thursday at 1200 GMT. Both central banks are expected to keep rates on hold.
Also this week, there is some key economic data out.
On Tuesday, there are gross domestic product readings from the eurozone and Germany. On Thursday, there is inflation data from the eurozone.
Across the pond, in the US, there are nonfarm payrolls out on Friday.
The pound was quoted at USD1.2711 early on Monday in London, down compared to USD1.2721 at the equities close on Friday. The euro stood at USD1.0838, lower against USD1.0866. Against the yen, the dollar was trading at JPY147.86, down compared to JPY147.92.
The price of oil jumped on Monday morning, amid rising tensions in the red sea. Brent oil was quoted at USD83.40 a barrel early in London on Monday, up from USD81.36 late Friday.
A drone attack on a base in Jordan killed three American troops and wounded more than 30 on Sunday, with President Joe Biden blaming Iran-backed militants and vowing to hold the perpetrators to account.
It is the first time American military personnel have been killed by hostile fire in the Middle East since the war between Israel and Iran-backed Hamas began, and the incident will further raise tensions in the region and add to fears of a broader conflict directly involving Tehran.
"While we are still gathering the facts of this attack, we know it was carried out by radical Iran-backed militant groups operating in Syria and Iraq," Biden said in a statement, pledging to hold "all those responsible to account at a time and in a manner of our choosing."
Oil majors Shell and BP were both up 1.7%, on the back of higher oil prices. They were amongst the best performers on the FTSE 100 index on Monday morning.
Elsewhere on the FTSE 100 index, Mondi fell 11%, after its stock went ex-dividend.
On the FTSE 250 index, Ferrexpo lost 5.3%.
The Swiss iron ore pellet producer said it has lost a USD125 million court case in Ukraine, but will appeal the decision.
The claim was filed against the company's Ukrainian subsidiary Ferrexpo Poltava Mining.
Amongst London's small-caps, Superdry jumped 7.0%.
The clothing retailer confirmed it is working with advisors to consider "the feasibility of various material cost saving options".
Sky News on Saturday had reported that Superdry is working with PricewaterhouseCoopers on a restructuring plan that could involve store closures and job cuts.
The plan could involve a company voluntary arrangement, an insolvency mechanism that enables businesses to reduce their liabilities to creditors, Sky said without citing sources. This would allow Superdry to close underperforming shops and force through rent cuts, it said.
In China, the Shanghai Composite closed down 0.9%, while the Hang Seng index in Hong Kong was up 0.8% in late dealings.
In Hong Kong, Evergrande shares plunged 21%, before the stock exchange halted trading.
A Hong Kong court on Monday ordered the liquidation of battered Chinese property developer Evergrande, dealing another blow to the firm that has become the symbol of a property crisis that has sent shivers through the economy.
High Court Judge Linda Chan's decision effectively kickstarts a long process which includes liquidating the developer's assets and replacing its management to assuage concerns of its creditors.
The move against what was once China's biggest developer comes as it wallows under more than USD300 billion in liabilities, one of several firms hammered by a years-long government clampdown on the sector.
In Asia on Monday, the Nikkei 225 index in Tokyo was up 0.8%. The S&P/ASX 200 in Sydney closed up 0.3%.
In the US on Friday, Wall Street ended mixed, with the Dow Jones Industrial Average up 0.2%, whilst the S&P 500 down 0.1% and the Nasdaq Composite down 0.4%.
Gold was quoted at USD2,033.11 an ounce, higher against USD2,018.76.
Still to come on Monday's economic calendar, there is a retail sales reading from Ireland out at 1100 GMT.
By Sophie Rose, Alliance News senior reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
BP (BP.)
Shell (SHEL)
Mondi (MNDI)
Ferrexpo (FXPO)
Superdry (SDRY)