European stocks gave up early gains to turn lower on Monday as weak regional data offset investor optimism over U.S. lawmakers reaching a deal to avert government shutdown.
Euro zone manufacturing activity remained mired in a deep and broad-based downturn last month, with the HCOB's final euro zone manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, falling to 43.4 from August's 43.5.
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Market Analysis
May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.