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European shares closed lower on Monday
The Stoxx 600 index falling 0.7% to 578.38 points, as investors awaited the US Federal Reserve's interest rate decision later in the week.
Real estate stocks weighed most heavily on the index, declining by about 1.6%, pressured by rising government bond yields worldwide. This increased investor concerns about mortgage costs and the potential for further challenges in the sector.
In contrast, the industrial sector provided some support, with its shares rising 0.6%, driven by strong performance from defense companies. Rheinmetall shares jumped 3.6% on reports of progress in negotiations to end the war in Ukraine, boosting demand for defense-related stocks.
At the level of major European indices:
The UK's FTSE 100 index fell by 0.27%.
Meanwhile, Germany's DAX index recorded a slight increase of 0.11%, amid a balanced performance from leading sectors.
The French CAC 40 index declined by 0.18%, pressured by some major company stocks.
The market declines coincided with a clear sense of caution among investors, as everyone awaits the Federal Reserve meeting amid growing expectations that the US central bank will move towards cutting interest rates, a decision that could significantly impact capital flows and global markets in the coming days.
