London, 21 December 2023
European shares extended early losses to settle marginally lower on Thursday.
As major market participants took profits from the late-year surge and continued to evaluate the trajectory for the ECB's interest rates next year, European shares extended early losses to settle marginally lower on Thursday, extending the modest decline from earlier in the week.
While the pan-European Stoxx 600 dipped by 0.2%, the Eurozone's Stoxx 50 fell 0.2% during the session to settle at 4,525, 0.5% below the 23-year high touched on Friday.
Consumer cyclical equities with a high weighting led the declines in the currency bloc.
Kering down 1.2% to lead a dismal afternoon for luxury stocks trading in Paris, while auto titans BMW, Volkswagen, and Mercedes shed about 1% in Frankfurt. SAP underperformed for a second session, closing 1.1% lower in the interim. (Source: Trading Economics // Edited by, The Decision Maker - Finance editors)
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