European Stocks Start the Week in Red, DAX Loses 0.36%
European stocks fell today to prolong losses compared with the previous session, as concerns about global growth continued. The German DAX stock index lost 0.36% to trade at 10.814 level. Investors also expect the US central bank meetings this week. The Fed is expected to raise its base interest rates on Wednesday by 25 basis points.
Today’s data showed, that the annual rate of inflation in the Eurozone eased more sharply than first estimated in November. Eurozone consumer prices were 1.9% higher in November than a year earlier, a sharper drop in the annual rate of inflation from 2.2% in October than previously estimated. Rate of the Eurozone inflation fell below the 2% level for the first time since May.
Meanwhile, core inflation, which excludes energy, food, alcohol and tobacco prices, rose by an annual rate of 1.0%, unchanged from the preliminary estimate and in line with forecasts.