European shares fall at start of data-rich week By Reuters

(Reuters) – European shares opened lower on Monday as investors braced for a week full of a flurry of economic data from the region, while comments from ECB President Christine Lagarde were expected.

The pan-European was down 0.1 percent at 527.47 points by 0710 GMT. The benchmark was set to gain for the third straight month, marking its longest winning streak in nearly seven months.

Gains in the oil sector kept losses in check. Oil prices rose on fears of escalating conflict in the Middle East. (OR)

Germany’s preliminary CPI figures for September are due at 12:00 GMT, while Italy’s are due at 09:00 GMT.

Britain’s second-quarter GDP figures showed its economy grew more slowly than expected. It was flat.

European Central Bank President Lagarde is due to address the European Parliament at 13:00 GMT.

Volkswagen (ETR: ) fell 2% after the German automaker cut its guidance for 2024.

Stellantis NV (NYSE: ) fell 8% after the Franco-Italian automaker cut its annual guidance, citing a deterioration in global industry dynamics.

Auto shares fell 2.2%, the most among sectors.

British multinational private equity and venture capital firm 3 i (LON: ) The group fell 3.5% after Shadowfall Capital bet short on the company.