European stocks included; The German manufacturer's prices fell via Investing.com
Investing.com – European stock markets traded mixed on Monday, starting the new week on a low note with the focus on the future path of interest rates and the third quarter earnings season.
At 03:10 ET (07:10 GMT), Germany traded 0.2% lower, France was down 0.2%, while the UK was up 0.2%.
The German manufacturer's prices are falling
Last week's interest rate cut, the central bank's first rate cut back since 2011, comes as regional inflation risks appear to be easing faster than expected.
fell more than expected in September, according to data released early Monday, down 1.4% year-on-year, the 15th decline in a row for this key inflation indicator.
In Asia, the People's Bank of China cut its benchmark quarterly early Monday, as part of the country's ongoing rollout of stimulus measures.
UBS to sell Swisscard stake
In the corporate sector, Swiss banking giant UBS (SIX:) will sell 50% of its holding in credit card provider Swisscard to its joint venture partners. American Express (NYSE:), while major Norwegian bank DnB (OL:) has agreed to buy Swedish investment bank and asset manager Carnegie from private equity firm Altor and minority shareholders.
A French pharmaceutical company Sanofi (NASDAQ: ) said it has entered into exclusive negotiations for the sale of a 50% controlling stake in its consumer health business Opella to US private equity firm Clayton Dubilier & Rice.
Crude stabilizes after loss
Oil prices edged higher on Monday, stabilizing after last week's sharp losses on concerns over growing global demand, particularly in China, the world's top oil importer.
At 03:10 ET, the contract was up 0.7% at $73.59 a barrel, while futures (WTI) traded 0.9% higher at $69.31 a barrel.
Brent settled less than 7% lower last week, while WTI lost nearly 8% after data showed China's economy grew at its slowest pace since early 2023 in the third quarter.
Sentiment was raised on Monday after China's central bank cut lending rates, in a bid to boost the world's second-largest economy.
Tensions in the Middle East remain high, as Israel continues its campaigns against Hamas and Hezbollah, while also preparing to retaliate against Iran for an early October strike.
