European equity markets were set to open lower on Monday, the first trading day of the year’s final month, following a choppy November, as investors awaited fresh catalysts. Upcoming US economic data and developments around the Federal Reserve reshuffle are likely to take center stage, with markets now expecting the Fed to cut interest rates at its December meeting. Investors are also watching progress on a potential Ukraine peace deal, as US Special Envoy Steve Witkoff visits Moscow to meet President Vladimir Putin and other Kremlin officials. The visit follows Ukraine’s approval in principle of a US-backed 19-point plan, a revised version of an earlier 28-point proposal seen as favoring Russia. There are no major earnings or data releases in Europe on Monday. In premarket trade, Euro Stoxx 50 and Stoxx 600 futures were both down 0.3%.