European Markets Falter Amidst Healthcare and Basic Resource Woes.
TL;DR Summary
European stocks fell as investors remained cautious, with the Stoxx 600 index down 0.42%. Lanxess, a German chemicals company, fell 17% after issuing profit warnings for Q2 and the full year. Investors will be monitoring the UK this week, with inflation data due Wednesday and a monetary policy announcement Thursday. China cut its one-year and five-year loan prime rates by 10 basis points each, the first cut since August. Defensive sectors utilities and healthcare rose 0.7% and 0.3%, respectively.
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