European stocks flat at start of holiday-shortened week
Goldman Sachs raised its 2024 year-end target for the STOXX 600 to 540 from 510, citing possible improvement in economic growth and monetary policy easing across central banks. The latest target implies a nearly 6% upside from Fridays close of 509.64.
European stocks were little changed at the start of holiday-shortened week as investors assessed recent big gains spurred by dovish views from major central banks. The STOXX 600 index slipped 0.02% on Monday, hovering just below record highs hit last week. Gains in travel and leisure stocks were offset by losses in retailers.
Goldman Sachs raised its 2024 year-end target for the STOXX 600 to 540 from 510, citing possible improvement in economic growth and monetary policy easing across central banks. The latest target implies a nearly 6% upside from Friday's close of 509.64.
Among big movers, shares of Direct Line tumbled 12.3% after Belgian insurer Ageas said it did not intend to make a further offer for the British home and motor insurer after it turned down two previous proposals.
Swedish real estate group SBB jumped 12.4% after it said it would buy back debt at a discount of 60% compared with the debt's original value, in an attempt to calm investors' nerves as it scrambles to tackle a multi-billion debt pile.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.