European Shares Slip On Rate Uncertainty

(RTTNews) - European stocks were mostly lower on Monday as investors digested hawkish comments from central bankers and looked ahead to the latest U.S. and U.K. inflation readings this week for further direction.

Meanwhile, Germany's business sentiment deteriorated unexpectedly in December, according to survey results from the ifo Institute.

The business climate index fell to 86.4 in December from a revised score of 87.2 in the previous month. The score was forecast to improve to 87.8.

Both current assessment and expectations among companies deteriorated at the end of the year.

The pan-European STOXX 600 was down 0.2 percent at 475.86 after ending marginally higher on Friday.

The German DAX slipped 0.2 percent and France's CAC 40 dropped half a percent while the U.K.'s FTSE 100 was up 0.4 percent.

OCI soared 12 percent after the Dutch chemicals maker announced the sale of its 50 percent stake in Fertiglobe to Abu Dhabi National Oil Company P.J.S.C.

Vodafone jumped 6.4 percent in London after Iliad Group put forward a proposal to the company to merge their Italian businesses in a deal valuing Vodafone Italia at 10.45 billion euros ($11.38 billion).

Unilever fell about 1 percent after the consumer goods giant said it would sell Q-Tips maker Elida Beauty to Boston-based private equity firm Yellow Wood for an undisclosed amount.

Building materials business CRH was down 1 percent after it joined hands with the Barro Group to acquire Australian cement manufacturing company Adbri.

Thyssenkrupp Nucera, which made its Frankfurt market debut in July, rallied 2.5 percent as it reported fourth quarter net income of 4.3 million euros compared to a loss of 1.2 million euros last year.

Software AG rose 1.5 percent after IBM said it would buy the German firm's enterprise tech business for 2.13 billion euros in cash.