European shares slip after gains in November
- The pan-European STOXX 600 dropped 0.4% to 573.88 points
European shares slipped on Monday, after monthly gains in November, as risk aversion swept through markets, with industrial shares weighing heavily, led by defence stocks and planemaker Airbus.
The pan-European STOXX 600 dropped 0.4% to 573.88 points by 0804 GMT. Major regional bourses such as Germany and France were down 0.5% each. After a strong November finish that eased AI bubble concerns, traders are now seeking fresh catalysts.
This week’s focus is on economic data and early holiday spending signals from Black Friday and Cyber Monday.
The industrial sector was the biggest drag on the index, down 1.3%.
Airbus shares fell 2.1%.
The planemaker recalled and ordered immediate repairs to 6,000 jets - more than half the worldwide fleet due to a software issue.
Defence stocks also fell, with Hensoldt, Rheinmetall and Leonardo down over 3% each.
The broader defence index lost 2.3%.
US and Ukrainian officials held “productive” talks on Sunday on a potential Russia-Ukraine peace deal, with US Secretary of State Marco Rubio expressing cautious optimism despite hurdles to ending the three-year war.
Among others, London’s Impax Asset Management fell 3.6% after its annual results.
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