European shares slip with central banks in focus; Nordic Semiconductor slumps

European shares opened slightly weaker on Monday after sharp gains last week, as investors braced for a week packed with central bank meetings including rate decisions from Norway, Sweden, Switzerland, UK and the United States.

European shares opened slightly weaker on Monday after sharp gains last week, as investors braced for a week packed with central bank meetings including rate decisions from Norway, Sweden, Switzerland, UK and the United States. The pan-European STOXX 600 edged 0.2% lower by 0705 GMT, with healthcare and rate-sensitive technology stocks weighing on the index.

Global central banks will take centre stage this week, with Bank of England likely to hike interest rates for the 15th time later in the week, while the Fed seems set for a hawkish pause. Nordic Semiconductor ASA shed nearly 14% after cutting its revenue guidance for the third quarter.

Societe Generale's new CEO Slawomir Krupa pledged to cut costs to boost profits by 2026 amid stagnating sales, in his first strategic plan for France's third-biggest listed bank, sending shares down 5.9%.

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