European shares ended an eight-day winning streak on Tuesday, weighed down by losses in mining stocks as optimism from China’s stimulus pledges waned following weak trade data. Attention now turns to U.S. inflation data.
The pan-European STOXX 600 index fell 0.2% to 520.02 by 0810 GMT, with the UK’s FTSE 100 leading the decline among European indices, dropping 0.5%.
Mining stocks led the downturn after China’s trade figures signaled softening demand. However, healthcare and auto sectors posted gains, rising 0.4% and 0.2%, respectively.
Germany’s DAX index slipped 0.2% after domestic inflation remained unchanged at 2.4% in November, confirming earlier estimates.
Investors are now awaiting U.S. inflation data, due on Wednesday, which could reinforce expectations for another interest rate cut on December 18.
In corporate news, Delivery Hero fell 8.6%, marking the largest drop on the STOXX 600, after listing its Middle East subsidiary, Talabat, on the Dubai Stock Exchange in 2024’s largest global technology IPO.
UK-based equipment rental firm Ashtead saw its shares decline 7.7% after announcing plans to shift its primary listing to the United States, its largest market, and projecting annual profit below prior expectations.
