(MENAFN- FxPro) European stocks were mostly lower on Monday, amid heightened expectations for a September rate hike by the Federal Reserve and as markets awaited the release of euro zone inflation data later in the day.
During European morning trade, the EURO STOXX 50 declined 0.63%, France's CAC 40 retreated 0.71%, while Germany's DAX 30 slid 0.59%.
Equity markets were jittery after Federal Reserve Vice Chairman Stanley Fischer said it was still too early to determine whether to raise short-term interest rates from near zero, where they have been held since December 2008, at the bank's September meeting.
Earlier Monday, data showed that German retail sales increased by 1.4% in July, beating expectations for a 1.0% rise. Retail sales fell 1.0% in June, whose figure was revised from a previously estimated 2.3% drop.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) slid 0.72% and 0.55%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) fell 0.17% and 0.85%.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) slipped 0.17% and 0.48% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) dropped 0.71% and 0.86%.
Elsewhere, Allianz (XETRA:ALVG) SE lost 0.84% amid reports the insurer's infrastructure unit is weighing bids for the Nice and London City airports.
Volkswagen (XETRA:VOWG) AG added to losses, with shares down 0.18% after saying it plans to sell a Suzuki Motor Corp. stake valued at about ¥463 billion, following a decision from arbitrators that ended a four-year dispute over a failed partnership.
In London, the FTSE 100 remained closed for the August bank holiday.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.80% decline, S&P 500 futures signaled a 0.82% drop, while the Nasdaq 100 futures indicated a 0.55% loss
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