European Shares Lack Momentum After Debt Ceiling Deal

European Shares Lack Momentum After Debt Ceiling Deal
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, on May 26, 2023. Staff/Reuters
Reuters
Updated:

LONDON—European stock indexes slipped slightly on Monday, lacking momentum in thin trade while optimism about the U.S. having reached a debt ceiling deal over the weekend kept Wall Street futures positive.

U.S. President Joe Biden and top congressional Republican Kevin McCarthy reached a tentative deal on Saturday to raise the federal government’s $31.4 trillion debt ceiling, aiming to stop the U.S. from defaulting on its debt. The deal is expected to provide only short-term relief for markets, as worries linger about inflation and further rate increases.