European stocks decline on energy losses, bond yield gains ‎

European stocks opened lower on Monday, continuing their weak start to the year, as the rise in government bond yields and the decline in energy stocks negatively affected appetite for risk.

According to Reuters, the European STOXX 600 index fell by 0815 GMT by 0.1 percent.

Yields on European 10-year bonds and 10-year German bonds rose, tracking their American counterparts, for the third session in a row.

Declining expectations for an early US interest rate cut led to continued support for the dollar and bond yields ahead of the release of the consumer price inflation report on Thursday.

Shares of European oil and gas companies fell by 1.4%, which had a significant negative impact on the STOXX 600 index, as oil prices fell due to a significant reduction in prices by Saudi Arabia, the largest exporter of crude in the world, and an increase in the production of the Organization of the Petroleum Exporting Countries (OPEC). ‎

On the data front, German industrial orders rose less than expected, while exports rose more than expected in November.

Investors’ focus will also shift to euro zone retail sales data for November, which is scheduled to be released at 1000 GMT.

Shares of Danish jewelry company Pandora rose 2.5% after quarterly sales exceeded expectations.