European shares lack momentum after debt ceiling deal

European stock indexes showed a slight decline in thin trading on Monday, while Wall Street futures were optimistic after a debt ceiling deal was reached between US President Joe Biden and top Republican Kevin McCarthy. However, the deal is expected to bring only short-term relief as worries about inflation and rate increases persist. Asian stocks were mostly up, except for falling Chinese stocks after data showed profits in the industrial sector were slumping, signifying an economic slowdown. US and UK markets are closed for public holidays. Eurozone government bond yields were lower ahead of inflation data due on Wednesday and Thursday.