European Markets Slip Ahead of Short Trading Week as Gold Hits Record Highs
European stocks fell modestly on Monday, as positive momentum from last week’s gains slowed ahead of a short trading week. The pan-European STOXX 600 slipped 0.2% by mid-morning in London, reflecting cautious sentiment among investors. Key indices including France’s CAC 40 and the UK’s FTSE 100 also saw small declines, while Germany’s DAX remained largely flat.
The market’s retreat follows a record-breaking session last week, when Europe’s benchmark index touched an intraday high of 588.07 points amid a flurry of interest rate decisions. French biotech firm Abivax continued to attract investor attention, climbing 8.6%, although the company declined to comment on takeover rumors involving U.S. pharmaceutical giant Eli Lilly. Meanwhile, Stellantis shares fell 2.2% following the closure of an Italian antitrust probe concerning EV information transparency.
Commodity markets continued to draw attention as gold surged to a record $4,445.8 per ounce and silver reached $68.96, marking year-to-date gains of nearly 70% and 128%, respectively. Investors remain focused on safe-haven assets amid ongoing geopolitical uncertainties, including discussions between U.S. and U.K. leaders over Ukraine and Gaza, and adjustments to a U.S.-drafted peace proposal that have raised concerns in Kyiv.
In other European market news, fast-fashion giant Shein successfully challenged a French government ban on certain products, though the court mandated age verification measures on the retailer’s site. Economic data remains limited this week, with U.K. GDP and business investment figures expected to provide insight into growth trends.
Looking globally, Asia-Pacific markets saw gains Monday after China’s central bank maintained its loan prime rates, holding them steady for the seventh consecutive session. U.S. futures also climbed as traders monitored whether tech stocks could sustain last week’s late-year rally, leaving investors cautiously optimistic as 2025 draws to a close.
source: cnbc