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Europe open: Shares flat as German retail sales disappoint
(Sharecast News) - European shares were flat on the final trading day of the month with weaker-than-expected German retail sales weighing on sentiment. The pan-regional Stoxx 600 was flat at 574.92 points by 0822 GMT. Germany's DAX fell 0.09%, France's CAC 40 also failed to move the needle, while Britain's FTSE 100 eked out a 0.07% gain.
On the economics front, German retail sales unexpectedly fell in October, according to the Federal Statistical Office on Friday, marking the fifth decline over the past seven months.
Retail sales volumes were 0.3% lower last month, reversing a revised 0.3% increase in September and missing the 0.2% increase expected by analysts.
Food sales were 1.2% higher during October, offset by a 0.7% drop in non-food sales and a 0.6% fall in online and mail-order sales.
Meanwhile in France, inflation unexpectedly remained unchanged at 0.8% against forecasts of a rise to 1% in November, while Spain's eased less than expected to 3.1% compared with estimates of 3%.
In equities news, Delivery Hero shares surged on a report the German food delivery platform is considering selling or divesting parts of its business under pressure from several major shareholders.
Reporting by Frank Prenesti for Sharecast.com
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