Investing.com — European stock markets traded lower on Monday, kicking off a trading period expected to be subdued ahead of Christmas.
At 03:13 ET (08:13 GMT), Germany’s fell 0.4%, France’s dropped 0.1%, and the UK’s slipped by 0.1%.
Markets across the region will either close early or remain shut on Christmas Eve and Christmas Day.
UK GDP revised to reflect stagnation in Q3
The UK’s real GDP for Q3 2024 has been revised down to show no growth, a reduction from the earlier 0.1% increase estimate.
The aggregate GDP trajectory has remained flat since Q1 2023. Sectorally, a 0.7% rise in construction activity was counterbalanced by a 0.4% dip in production and stagnant services. GDP per head fell by 0.2% over the quarter, also marking a 0.2% year-on-year decline.
Households’ real disposable income per head showed no growth in Q3, following a 1.4% rise in Q2. The household savings ratio slightly decreased to 10.1%, down from 10.3% in the previous quarter.
buys in £3.7 billion deal
Aviva has announced the acquisition of Direct Line for £3.7 billion in cash and stock, forming the largest home and motor insurance entity in the UK.
Shareholders of Direct Line will receive 0.2867 new Aviva shares, 129.7 pence in cash, and up to 5 pence as a dividend.
The preliminary agreement was finalized earlier in December, just before the Christmas Day deadline.
Oil prices edge higher amid positive US developments
Oil prices gained modestly on Monday, buoyed by the US government’s resolution of a potential shutdown and favorable inflation trends.
At 03:13 ET futures rose 0.3% to $72.81 per barrel, while climbed 0.4% to $69.75.
Optimism surrounding China’s economic stimulus plans and the potential for stricter sanctions on Iran and Russia are fueling a tighter supply outlook for 2025.
