European markets opened lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday.
The pan-European Stoxx 600
was down by 0.2% shortly after trading began, with regional indexes largely trading in negative territory. Germany’s DAX was last around 0.4% lower, while France’s CAC 40 fell around 0.3%. U.K. markets were closed for a public holiday.
Investors continued to weigh the economic outlook after Federal Reserve Chairman Jerome Powell on Friday suggested the central bank may soon opt to cut interest rates. Last week, markets had also considered fresh details on the U.S.-European Union trade agreement, which provided some much sought after clarity to sectors such as pharmaceuticals.
As trading begins Monday, investors are set to pay close attention to shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode Island, threatening Orsted’s plans to raise capital.
