European stocks fell on Monday, mainly because technology and healthcare companies are facing challenges. This drop comes after news from the U.S. showed more jobs were added than expected, which makes people think that the Federal Reserve might be careful about lowering interest rates this year.
The overall European stock market, measured by the STOXX 600, fell by 0.5% around 0812 GMT. This follows a tough Friday, when the U.S. job market news caused the market to drop nearly 1%. Tech stocks in Europe fell by 1.6%, following similar declines in the U.S. The healthcare sector also dipped by 0.9%. However, energy stocks rose by 0.9% as crude oil prices increased.
European government bond yields remain high, similar to U.S. Treasury yields. The 10-year German bond yield is close to its highest level in over six months. Investors are now looking forward to inflation reports from countries like the UK and Germany, as well as a consumer price report from the U.S.
In a positive note, British gambling company Entain soared by 8.8% after announcing it expects to make more money than initially predicted for 2024.
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