European Shares Lower on Monday After Mixed Inflation Data

October 17, 2016 Share Print 0

European shares are trading notably lower on Monday, as a cautious mood prevailed ahead of earnings, key Chinese data and the ECB’s monetary policy decision due later this week. Lower oil prices and mixed Eurozone inflation data also weighed on investor sentiment.

A Eurostat report released today showed that Eurozone inflation accelerated as estimated in September to the highest level since late 2014.

Inflation rose to 0.4 percent from 0.2 percent in August, matching the preliminary estimate published on September 30. Nonetheless, headline inflation has been below the European Central Bank’s target of ‘below, but close to 2 percent’ since early 2013.

The German DAX is down by 66 points or 0.63 percent at 10,514 and France’s CAC 40 index is down 24 points or 0.55 percent at 4,446, while the U.K.’s FTSE 100 is trading at 6,958, down 55 points or 0.79 percent from its previous close.

via Nasdaq

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.