European Markets Close Mixed

European markets closed on a mixed note on Monday, in line with the trend seen in markets across the globe, with investors tracking quarterly earnings announcements and other corporate news for direction.

Markets were also digesting the latest batch of economic data, and updates on coronavirus infections and vaccine rollouts. Investors were also looking ahead to the European Central Bank’s monetary policy decision, due on Thursday.

The pan European Stoxx 600 edged down 0.07%. The U.K.’s FTSE 100 slid 0.28%, Germany’s DAX shed 0.59%, Switzerland’s SMI ended lower by 0.47%, while France’s CAC 40 gained 0.15%.

Among other markets in Europe, Belgium, Czech Republic, Finland and Spain moved higher.

Austria, Denmark, Greece, Netherlands, Norway, Poland, Russia, Sweden and Turkey closed weak, while Iceland, Ireland and Portugal ended flat.

In the UK market, Sainsbury J, Ocado Group, B&M, United Utilities, Kingfisher, Hargreaves, Associated British Foods, Severn Trent, Tesco, Just Eat Takeaway and British Land gained 1 to 2.5%.

Melrose Industries plunged 4.6% after it entered into an agreement to sell its Nortek Air Management business to Chicago-based Madison Industries for about 2.62 billion pounds or $3.625 billion, in cash.

Flutter Entertainment shed 3.3%, while Pershing Square Holdings, Evraz, Scottish Mortgage and Smith & Nephew lost 2 to 3%.

In Germany, E.ON, Bayer, Lufthansa and Fresenius Medical Care gained 1.3 to 2%, while Covestro, Vonovia, Continental, Henkel, Infineon Technologies, Volkswagen, Thyssenkrupp, Daimler and HeidelbergCement ended sharply lower.

In the French market, Unibail Rodamco, WorldLine, Vinci, Carrefour, Danone, CapGemini, Credit Agricole and Air France-KLM posted notable gains. Sanofi shares moved higher after the company said that the European Commission approved Sarclisa or isatuximab in combination with carfilzomib and dexamethasone for the treatment of adult patients with relapsed multiple myeloma who have received at least one prior therapy.

Faurecia shares tumbled despite reporting strong sales in the first-quarter, significantly beating forecasts. STMicroElectronics, Publicis Groupe, Valeo and ArcelorMittal also declined sharply.

In economic releases, the euro area current account surplus declined in February largely due to a fall in the goods trade surplus, data published by the European Central Bank showed.

The current account surplus totaled EUR 26 billion versus a EUR 35 billion surplus in January.

The surplus on goods trade fell to EUR 32 billion from EUR 38 billion and that on services trade decreased to EUR 11 billion from EUR 12 billion in the previous month.

Eurozone’s construction output fell 2.1% month-on-month in February, after a 0.8% rise in January. Eurostat reported. In December, construction output decreased 1.4%.

UK house prices reached a record high in April as properties available to buy hit the lowest proportion ever recorded due to high demand, property website Rightmove said Monday.

House prices increased 2.1% on a monthly basis in April, following a 0.8% rise in March. Average house prices hit a record GBP 327,797.

Year-on-year, house price inflation accelerated to 5.1% in April from 2.7% in the previous month.

In vaccine news, Pfizer Inc. and BioNTech SE announced that they will supply an additional 100 million doses of COMIRNATY, the companies’ COVID-19 vaccine, to the 27 European Union member states in 2021.

The agreement follows the European Commission’s decision to exercise its option to purchase an additional 100 million doses under its expanded Advanced Purchase Agreement signed on February 17.