PARIS, Dec 27 (Reuters) - European stocks were set to dip on Monday, halting their brisk December rally, as China's interest rate hike over the weekend revived tightening concerns, while trading volumes will be thin as UK markets remain closed.
Financial spreadbetters expected Germany's DAX to open around 13 points, or 0.2 percent, lower and France's CAC-40 to open around 14 points, or 0.4 percent, lower.
On Saturday, China's central bank raised interest rates for the second time in just over two months as it stepped up its battle to rein in stubbornly high inflation. The People's Bank of China said it will raise the benchmark lending rate by 25 basis points to 5.81 percent and lift the benchmark deposit rate by 25 basis points to 2.75 percent. [ID:nTOE6BO010]
European stocks inched higher in a holiday-thinned session on Friday, on track to post their best month of December in a decade. -----------------------MARKET SNAPSHOT AT 0611 GMT ---------------------
LAST PCT CHG NET CHG
NIKKEI 10,355.99 0.75 % 76.8
MSCI ASIA EX-JP 556.48 0.19 % 1.05
EUR/USD 1.3129 0.12 % 0.0016
USD/JPY 82.78 -0.13 % -0.1100
10-YR US TSY YLD 3.430 -- 0.03
10-YR BUND YLD 2.982 -- 0.00
SPOT GOLD $1,385.10 0.06 % $0.85
US CRUDE
GLOBAL MARKETS-China rate hike weighs on Aussie, commods[ID:nTOE6BQ01P]
Nikkei edges up, takes China rate hike in stride [ID:nTOE6BQ02E]
Oil steadies near 2-yr high, China rate hike pressures [ID:nL3E6NR05B]
FOREX-Aussie slips on China's rate hike in thin market [ID:nTOE6BQ02A]
Gold recovers some loss, bargain hunting supports [ID:nL3E6NR009]
Metals pare losses, copper up on demand outlook [ID:nL3E6NR02I]
CHINA MRKTS-Chinese investors take rate rise in stride [ID:nBJD000151] (Reporting by Blaise Robinson; Editing by Muralikumar Anantharaman)