Major stock indices in Europe little changed

European stock indices show moderate declines. "In general, the mood remains positive, and any sales seen by investors as opportunities for entering longs, - said Markus Huber, trader at City of London Markets.

Little impact on trading had news that the British Chamber of Commerce (BCC) has improved its forecast for economic growth next year, but lowered its forecast for 2018. According to BCC estimates that GDP growth in 2017 will be 1.1 percent. Previously it predicted +1.0 percent. The BCC explained that improved their forecasts in response to stronger-than-expected economic indicators after the referendum. BCC also added that the UK economy is likely to grow by 2.1 percent this year, which roughly corresponds to the long-term average. However, the business group said it expects the current economic slowdown in the momentum over the next two years. BCC lowered its forecast for GDP growth in 2018 to 1.4 percent from 1.8 percent, citing the continuation of Brexit effects. "The weaker economic activity and a slowdown in growth in real wages caused by the collapse of the pound after the referendum is expected to curb household consumption and business investment". Inflation is expected to exceed the target value of the Bank of England (2 per cent) in 2017. The BCC expect higher +2.1% inflation in 2017 and 2.4 percent in 2018.

The composite index of the largest companies in the region Stoxx Europe 600 traded down 0.4 percent after it recorded the maximum weekly gain in nearly two years.

The price of Deutsche Lufthansa AG, Air France-KLM and IAG SA fell more than 2.2 percent, as a significant rise in oil prices suggests growth in costs.

The Italian FTSE MIB index rose 1.2 percent after on Friday gained 0.63 percent. Part of the reason for the increase of the index was the statement of the European Commissioner Moscovici, who ruled out the possibility of a banking crisis in Italy or a financial crisis in Europe.

Health sector shares fell by more than 0.7 per cent. Lonza announced that it is negotiating the purchase of US drugmaker Capsugel. The deal could reach more than $ 5 billion.

Capitalization of Sky Plc fell 1.2 percent amid reports that the major shareholders of Sky will oppose a takeover bid by Twenty-First Century Fox.

At the moment:

FTSE 100 6933.83 -20.38 -0.29%

DAX -30.89 11172.74 -0.28%

CAC 40 -1.56 4762.51 -0.03%