CAC 40 Edges Lower as Investors Eye Fed

London’s FTSE 100 fell 0.1% to 9,660 on Monday, its lowest since November 25, as investors eyed a busy week of central bank decisions, including a likely third Fed rate cut on Wednesday.

Attention will focus on updated FOMC projections amid uncertainty over 2026 policy.

Meanwhile, UK data showing accelerating wage growth could also complicate the Bank of England’s outlook.

A survey by the Recruitment & Employment Confederation and KPMG showed starting pay for permanent staff rose at the fastest pace in five months, even as hiring slowed and jobseekers increased, highlighting persistent wage pressures.

The findings echo the BOE’s Decision Maker Panel, highlighting persistent wage pressures despite a weakening labor market.

On the corporate front, Unilever tumbled nearly 4% to the bottom of the index after completing its Magnum spinoff.

Other notable decliners included Unite Group, Barratt Developments, Redrow, Frasers Group, and B&M European Value, all falling more than 2%.

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were mixed on Monday ahead of interest-rate decisions from the U.S. Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia and the Bank of Canada this week.

In economic releases, Germany's industrial production growth accelerated unexpectedly in October, official data showed.

Industrial output logged a monthly growth of 1.8 percent in October, Destatis reported.

Economists were expecting the increase to ease sharply to 0.2 percent from a revised 1.1 percent rise posted in September.

On a yearly basis, industrial production gained 0.8 percent, in contrast to the 1.4 percent decrease in September.

The pan-European Stoxx 600 was little changed at 578.71 after finishing marginally lower on Friday to snap a three-day winning streak.

The German DAX edged up by 0.1 percent, while France's CAC 40 slipped 0.2 percent and the U.K.'s FTSE 100 was marginally lower.

Kloeckner and Co shares soared 18 percent. The German metals company has confirmed it is in discussions regarding a potential voluntary takeover offer from U.S. metals processor Worthington Steel.

Car parts supplier Stabilus declined 1.7 percent after its profit fell in fiscal 2025, impacted by unfavorable market conditions, the global tariff conflict, and the higher pricing pressure in the automotive business.

French bank BNP Paribas edged up slightly after it signed an agreement to sell its 25 percent stake in AG Insurance to Ageas for €1.9 billion.

Beauty giant L'Oreal lost nearly 2 percent on news it will double its stake in Swiss skin care firm Galderma.

Swiss major Sandoz rallied 3 percent after completing the acquisition of Just-Evotec Biologics EU SAS from Evotec SE.

Smith & Nephew advanced 1.6 percent. The medical technology company outlined a new strategic plan, updated 2026 guidance, and long-term 2028 goals at its Capital Markets Day in London.

Consumer goods giant Unilever slumped 3.8 percent after completing the demerger of its ice cream business, now known as The Magnum Ice Cream Company (TMICC).

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BELEX 15 increased to 1270.00 Index Points, the highest since September 2008.

Over the past 4 weeks, Belgrade Stock Exchange 15 gained 1.34%, and in the last 12 months, it increased 9.47%.

The FTSE MIB slipped 0.2% to around 43,330 in early Monday trading, starting the week on a cautious note as investors await key central bank decisions.

Investor attention is primarily on the US Federal Reserve, which is widely expected to implement a 25-basis-point rate cut.

Shares of Ferrari fell 2.6% after Morgan Stanley downgraded the luxury sports car maker to ‘equal weight’ from ‘overweight,’ lowering its target price from $520 to $425 per share.

Other early laggards included major Italian banks and energy stocks: Eni (-1.5%), Mediobanca (-1.8%), Bper Banca (-1.2%), Banca Mediolanum (-1.4%), and FinecoBank (-1.5%).

CANBERA (dpa-AFX) - Asian stocks turned in a mixed performance on Monday as investors parsed Chinese trade data, navigated deteriorating China-Japan relations and looked ahead to the Federal Reserve's interest-rate decision due on Wednesday.

The Fed is likely to cut interest rates by 25 basis points on Wednesday but the path for 2026 looks more uncertain.

The dollar softened in Asian trade on rate cut expectations and gold traded firm above $4,200 per ounce while oil hovered at two-week highs.

China's Shanghai Composite index surged 0.54 percent to 3,924.08 after the release of trade data.

According to the customs office, China's exports grew 5.9 percent on a yearly basis in November, reversing a 1.1 percent fall in October. Analysts expected shipments to increase 3.8 percent.

Imports posted an annual growth of 1.9 percent after rising 1 percent in the previous month. This was weaker than the expected growth of 2.8 percent, resulting in a trade surplus of around $112 billion in the month.

Hong Kong's Hang Seng index fell 1.23 percent to 25,765.36 as tensions between China and Japan escalated.

Japan accused Chinese fighter jets of aiming radar at its aircraft near Okinawa. China denied the claim and said Japanese jets provoked their navy.

Investors also weighed trade tensions after French President Emmanuel Macron raised the prospect of imposing tariffs on Chinese goods.

Japanese markets ended slightly higher after a choppy session as data showed the Japanese economy shrank more than initially estimated last quarter, primarily due to weak capital spending.

On an annualized basis, GDP declined 2.3 percent in the three months through September - missing expectations for a fall of 2.0 percent following the 2.2 percent gain in the second quarter.

The Nikkei average ended up 0.18 percent at 50,581.94 while the broader Topix index settled 0.65 percent higher at 3,384.31.

Among the top gainers, Fujikura jumped 7 percent and Fuji Electric surged 4.1 percent. Big tech stocks ended mixed amid caution over the durability of this year's AI-driven rally. Startup investor SoftBank Group tumbled 3.3 percent.

Seoul stocks rallied, led by technology shares on growing expectations for robust fourth-quarter earnings. The Kospi average climbed 1.34 percent to 4,154.85. Memory chipmaker Samsung Electronics rose 1 percent and peer SK Hynix soared 6.1 percent.

Australian markets ended marginally lower in cautious trade as the Reserve Bank of Australia kicked off its two-day policy meeting. Investors also waited for cues from local jobs data, due on Thursday.

The benchmark S&P/ASX 200 slid 0.12 percent to 8,624.40, with miners leading losses. The broader All Ordinaries index closed down 0.12 percent at 8,915.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index finished marginally higher at 13,486.32 after two consecutive sessions of losses.

U.S. stocks eked out modest gains on Friday after the closely watched PCE price index ticked up to 2.8 percent in September from 2.7 percent in August, matching estimates and boosting rate-cut hopes.

Separately, a measure of U.S. consumer confidence rose for the first time in five months as respondents' inflation expectations improved.

The tech-heavy Nasdaq Composite rose 0.3 percent to reach a one-month high and the S&P 500 added 0.2 percent to extend gains for a fourth day running while the narrower Dow edged up by 0.2 percent.

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Frankfurt's DAX was little changed around 24,030 on Monday, mirroring a general cautious sentiment ahead of the US Federal Reserve's interest rate decision on Wednesday.

With a 25 bp cut already priced by markets, the spotlight will fall on the FOMC’s revised projections as uncertainty persists around the Fed’s 2026 policy outlook.

Sector-wise, gains in healthcare stocks and industrials offset losses in consumer-related companies.