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European stocks started the week relatively flat on Monday, a week of economic data and monetary policy decisions that prompted investors to exercise caution ahead of an expected easing cycle from the Federal Reserve, with many leaning toward a bigger-than-expected interest rate cut..
The pan-European STOXX 600 index rose 0.04 percent during trading, amid declines in all major European markets and declines in most of the sub-sectors included in the index..
The British FTSE rose 0.08%, the French CAC 40 rose 0.11%, and the Italian FTSE rose 0.16%, while the German DAX fell 0.25%.%.
All eyes will be on the U.S. Federal Reserve ahead of its monetary policy decision on Wednesday. Financial markets are currently pricing in a 50 basis point rate cut with a 60 percent chance of the Fed cutting rates by 120 basis points overall this year..
Shares in France’s Rexel jumped 12.6 percent after the Paris-listed company rejected a takeover offer worth about $9.4 billion from a group led by billionaire Brad Jacobs..
But Nestle shares weighed on the index, falling about 1 percent after Morgan Stanley cut its recommendation on the stock and lowered its price target..
