Europe open: Shares lower as investors eye data dump, Q1 earnings

8th Apr 2024 08:07

(Sharecast News) - European shares opened marginally lower on Monday as investors awaited the start of the latest earnings season and another dump of economic data.

The pan-regional Stoxx 600 index was down 0.02% at 506.45 in early morning trade, with major bourses mixed. Investors are eyeing a wide range of economic data this week, including a European Central Bank's interest rate decision on Thursday and CPI numbers from the US.

In economic news, German industrial production rose more than expected in February due to the performance of the construction industry.

Industrial production rose by 2.1% compared to the previous month and a forecast rise of 0.3%.

On the commodities front, Brent crude prices fell to just under $90 a barrel as Israel withdrew more troops from Southern Gaza.

In equity news shares in Zalando were higher after Citigroup upped its rating on the German online fashion retailer to 'buy' from 'neutral'.

Entain shares also gained on a report private equity outfit Apollo was mulling a break-up bid for the troubled gambling firm.

Reporting by Frank Prenesti for Sharecast.com