European Shares Open Lower; Upcoming Fed And ECB Meetings In Focus
2025-01-18
2455
(fxcue news) - European stocks opened lower on Monday as artificial intelligence-related stocks succumbed to selling pressure on doubts over America's technological dominance.
Investors also digested weak economic data from China and looked ahead to the Fed and ECB interest-rate decisions due this week.
The pan European STOXX 600 dipped 0.7 percent to 526.62 after finishing marginally lower on Friday.
The German DAX fell 1.3 percent despite the headline German IFO Business Climate Index increasing to 85.1 in January from 84.7 in December.
France's CAC 40 shed 0.9 percent and the U.K.'s FTSE 100 was down 0.2 percent.
Chip equipment maker ASML fell nearly 2 percent after Chinese startup DeepSeek's AI Assistant overtook rival ChatGPT to become the top-rated free application available on Apple's App Store in the United States.
Siemens Energy, which makes everything from gas and wind turbines to power network equipment and transmission technology, plunged 19 percent.
Low-cost airline Ryanair rallied 3.5 percent after reporting better-than-expected quarterly earnings.
British American Tobacco jumped nearly 4 percent after the Trump administration withdrew a plan to ban menthol cigarettes in the U.S.
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