European markets shut blended in quiet commerce as holiday-shortened week begins

Investing.com — European inventory markets closed in a muted vogue at first of a holiday-shortened week, whereas financial development within the UK stalled. 

At 11:30 ET (16:30 GMT), Germany’s DAX fell 0.3%, France’s CAC 40 dropped 0.03%, whereas the UK’s FTSE 100 gained 0.1%.

Markets throughout the area will both shut early or stay shut on Christmas Eve and Christmas Day.

UK GDP stagnated in Q3

The UK’s actual GDP for the third quarter of 2024 was revised down to indicate no development, a discount from the sooner 0.1% enhance estimate, including to indicators of a financial slowdown.

The Workplace for Nationwide Statistics additionally reduce its estimate for development within the second quarter to 0.4% from a earlier 0.5%.

Elsewhere, Spain’s gross home product grew 0.8% within the third quarter, confirming the preliminary studying, whereas German import costs grew by 0.6% yr on yr in November, above the 0.3% enhance anticipated.

Aviva to purchase Direct Line in £3.7 billion deal

Aviva (LON:AV) inventory rose 0.9% after the UK insurer introduced the acquisition of Direct Line (LON:DLGD), up 4%, for £3.7 billion in money and inventory, forming the biggest residence and motor insurance coverage entity within the UK. 

The preliminary settlement was finalized earlier in December, simply earlier than the Christmas Day deadline.

L’Oreal (EPA:OREP) edged barely increased after it agreed to amass Gowoonsesang Cosmetics, the corporate behind the South Korean skincare model Dr.G, from Swiss retailer Migros.

Oil costs slip barely

Oil costs slipped barely Monday, as traders digested the US authorities’s decision of a possible shutdown and favorable inflation traits in addition to weaker demand considerations. 

At 11:30 ET Brent crude futures fell 0.9% to $71.9 per barrel, whereas WTI crude futures dropped 1% to $68.8 a barrel. 

Optimism surrounding China’s financial stimulus plans and the potential for stricter sanctions on Iran and Russia are fueling a tighter provide outlook for 2025.

(Navamya Acharya contributed to this text.)