European Stock Markets are Sluggish
European stock exchanges ended with a slight change on Monday (3/9). Market participants are still concerned about US trade policy and the emerging markets in Asia are closing.
The pan-European STOXX 600 index rose 0.05% to 382.46 points. Stock market activity in Europe is sluggish because US markets are holidaying to celebrate Labor Day.
Stocks in Europe showed little reaction to reports of euro zone manufacturing growth that showed a slowdown in the slowest pace in almost two years.
London FTSE 100 is the only index that performed brilliantly with an increase of 0.8%. The pound weakening provides accounting benefits for British blue chips.
“With US holidays due to commemorating Labor Day, there have been little changes in the European market. The beginning of September was determined by sterling,” said Connor Campbell, an analyst for Spreadex.
Italian banks also rose despite ratings agency Fitch reducing the outlook for Italy to negative on Friday.