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On Monday, the Euro Stoxx 50 closed down more than 0.5% as investors prepared for the World Economic Forum. ECB’s Robert Holzmann dismissed 2024 rate cuts, citing an unlikely need unless a significant economic shock occurs. Germany’s 0.3% economic contraction in 2023, driven by inflation, higher borrowing costs, and weak demand, added to economic concerns. Eurozone industrial activity contracted by 0.3% in November for the third consecutive month. Corporate moves included Dassault Aviation’s 6% drop, Atos falling over 15%, and Commerzbank rising almost 1% amid renewed merger talks. Meantime US markets remained closed in remembrance of Martin Luther King Day.
Summary for 16.01.2024
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