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Home Market Insight European stocks start the week lower as healthcare, tech stocks fall

European stocks start the week lower as healthcare, tech stocks fall

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European shares were dragged lower by technology and healthcare stocks on Monday, as global equities faced pressure after US jobs data bolstered bets the Federal Reserve will be wary of cutting interest rates this year.

The pan-European STOXX 600 was down 0.5% by 0812 GMT, extending its decline following a nearly 1% drop on Friday after data showed US job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1%.

Technology stocks trailed their Wall Street peers lower with a 1.6% decline, while heavyweight healthcare shed 0.9%.

Heavyweight energy stocks, however, rose 0.9% as crude oil prices rose more than 1%.

The US In line with Treasuries, European government bond yields remained elevated. Yields on the 10-year bond are near their highest in six months.

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    At the end of the week, inflation figures will be in focus across the continent, including the UK and Germany, with the US consumer price report.

    Entain rose 8.8% after the British gambling group said it expected core profits to be at the top end of its forecast range for 2024.

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