European markets open lower as shortened Christmas week begins

European markets opened lower Monday as a shortened trading week began in the run-up to Christmas.

The pan-European Stoxx 600 index was 0.1% lower shortly after the opening bell, with most sectors and all major bourses in negative territory.

Trading is expected to be relatively muted in the run-up to Christmas, with European markets set to be closed, or close early, for Christmas Eve and to remain shut on Christmas Day.

Overnight, Asia-Pacific markets started the week on a positive note, with investors digesting a press conference relating to the merger of Japanese automakers Honda and Nissan.

The carmakers confirmed on Monday that they had begun merger talks. Shares of France’s Renault, which owns a minority stake in Nissan, edged higher to gain 0.2% during early deals.

Sentiment in Asia was boosted following a cooler-than-expected inflation reading that helped lift U.S. markets Friday. U.S. stock futures edged up in overnight trading Sunday.