Europe open: Shares open lower in muted trade

11th Mar 2024 08:13

(Sharecast News) - European shares opened lower on Monday after a weak session in Asia and a lack of major corporate or economic data to drive sentiment.

The pan-European Stoxx 600 index was down 0.5% at 500.75 in early deals, with all major regional bourses lower.

In economic news, China recorded its first month of inflation after four months of deflation with the country's consumer price index up 0.7% year on year in February after a 0.8% fall in January.

In equity news, shares in Currys fell after private equity predator Elliott pulled from the race to bid for the UK electricals retailer.

BE Semiconductors led the fallers, with a decline of more than 10%. Other shares in the sector were also down, including ASML.

Reporting by Frank Prenesti for Sharecast.com