European shares fall on caution ahead of cenbanks' rate decisions By Reuters

(Reuters) - European shares fell on mf foreign exchangeMonday, as investors braced for interest rate decisions from the U.S. Federal Reserve and the European Central Bank due this week, while rising COVID-19 infections in China after restrictions were eased also weighed on sentiment.

The continent-wide index was down 0.4% at 0805 GMT.

The index posted its first weekly drop after a seven-week rally on Friday, as fears of an impending global recession from aggressive rate hikes countered optimism around the easing of strict COVID-19 curbs in China.

Investor focus on Monday also turned to a surge in COVID-19 infections in China following loosening of the restrictions, with industrials and some China-exposed luxury firms such as LVMH and Hermes International (OTC:) among biggest drags on the STOXX 600.

On the other hand, London Stock Exchange rose 4.5% after Microsoft (NASDAQ:) agreed to buy about 4% equity stake in the UK bourse operator as part of a deal to migrate its data platform into cloud.

Shares of (NASDAQ:) SA rose 1.9% after the French drugmaker on Sunday said it was no longer in discussions to buy Horizon Therapeutics (NASDAQ:).

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!