Europe close: Stoxx slips further on weak Wall St open

(Sharecast News) - European shares closed lower on the last full day of trading for 2024, with markets drifting lower in line with a weaker start on Wall Street.

The pan-regional Stoxx 600 index finished the session down 0.46% at 504.86 as bearish sentiment returned in the afternoon.

Major bourses were mixed, with Spain's IBEX finishing higher, but giving up a large proportion of the day's gains to finish 0.05% higher at 11,536. Official data from the country's National Statistics Institute revealed that annual EU-harmonized inflation had risen to 2.8% in December, up from 2.4% in the previous month.

Germany's DAX was down 0.38% at 19,909, while France's CAC 40 finished 0.57% lower at 7,313.

Stock markets in Germany, Italy and Switzerland will be closed on Tuesday, while those in Ireland, the UK and France have a half-day trading session.

With a dearth of corporate news, there was little to drive shares. UK online supermarket delivery and warehouse tech company Ocado led the fallers, down more than 3%, after reports last week that many of its Christmas deliveries were missing essential items.

Shares in BayWa surged 20% after the German farming supplies and produce trader said it had reached a restructuring agreement with major shareholders and lenders.

Lufthansa flew higher with a gain of 1.7%.

Reporting by Frank Prenesti for Sharecast.com