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European shares edge lower ahead of Christmas holiday break

Published 12/23/2019, 04:20 PM
Updated 12/23/2019, 04:24 PM
European shares edge lower ahead of Christmas holiday break
IT40
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ATL
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STOXX
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SX7P
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(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
Dec 23 (Reuters) - European shares dipped slightly on Monday
after nearing a record high in the previous session, as trading
thinned ahead of the Christmas and Boxing Day holidays later in
the week.
The pan-European STOXX 600 index .STOXX was down 0.1% at
0814 GMT, with the banking sector .SX7P leading declines.
An improving outlook on the global economy and optimism
around a smoother Brexit had sent European equities to an
all-time high last week, with the benchmark index logging its
biggest weekly gain in two months.
But with an initial U.S.-China trade deal unlikely to be
signed this year, and British Prime Minister Boris Johnson's
willingness to take a hard line on future Brexit negotiations,
analysts said stocks had little reason to move much from current
levels.
A 3% decline for Italian infrastructure group Atlantia
ATL.MI pressured the wider country index .FTMIB .
On Saturday, a report said the Italian government had
provisionally approved a document to make it easier to revoke
concessions to operate motorways. The decree does not mention
Atlantia, but a government source told Reuters that the measures
could be applied to it.

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