European markets traded lower on Monday as investors anticipate the forthcoming interest rate decision from the European Central Bank.
The pan-European Stoxx 600 was down 0.1% in early afternoon trading, with most sectors seeing declines. Mining stocks experienced a 1% drop, while the technology sector saw a 0.7% increase.
Last week, regional markets closed higher as investors analyzed the latest inflation data from the eurozone. The headline consumer price index fell to 2.6% in February, down from January’s 2.8%, against economists’ expectations of 2.5%.
In the Asia-Pacific markets on Monday, Japan’s Nikkei 225 surpassed the 40,000 mark, rising 0.46% and achieving a record high following fresh all-time highs for the S&P500 and the Nasdaq Composite on Friday.
Overnight, oil prices saw a slight increase, with West Texas Intermediate crude briefly exceeding the $80 threshold for the first time in four months. This followed announcements from oil giants Saudi Arabia and Russia, along with other key OPEC+ members, stating their intention to prolong voluntary crude supply cuts until the end of the second quarter.
U.S. stocks opened lower after reaching new record highs.
