European markets closed in the red on Monday, marking the region’s last full trading session of 2024.
The pan-European Stoxx 600 fell 0.48%, with most sectors in negative territory. Technology, industrials, and media led the declines, while oil and gas stocks posted gains.
Key highlights:
- Spain’s Inflation: December’s annual EU-harmonized inflation rate rose to 2.8%, exceeding analysts’ expectations of 2.6%.
- Boeing Investigation: South Korean authorities announced plans to inspect Boeing 737-800 aircraft following a recent crash, sending Boeing shares down 2.2%.
- Ocado Losses: British online grocery retailer Ocado fell 3.1%, following reports of incomplete Christmas deliveries.
Despite the day’s losses, the Stoxx 600 has risen 5.5% in 2024, although it lags behind the U.S. S&P 500, which gained 25% this year.
European markets will close early or remain shut until January 2 as the region enters the New Year holiday period.
