Major European Markets Close Mixed

European stocks ended mixed on Monday after turning in a sluggish performance as concerns about new COVID-related curbs in Asia, especially China, dented optimism over economic revival.

Falling commodity prices rendered mining and energy sectors weak, contributing significantly to the subdued trend in the markets.

There was some respite on the economic front as new data showed Germany’s exports grew at a faster pace in June despite persistent supply bottlenecks in manufacturing.

Additionally, China’s factory gate inflation in July rose at a faster clip from the previous month, raising concerns that inflation could spike further if lockdowns in parts of the country cause supply problems.

The pan European Stoxx 600 climbed 0.15%. The U.K.’s FTSE 100 gained 0.13%, while Germany’s DAX and France’s CAC 40 edged down 0.1% and 0.06%, respectively. Switzerland’s SMI surged up 1.1%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Netherlands, Norway, Portugal, Russia and Sweden ended higher.

Finland, Greece, Iceland, Ireland, Spain and Turkey closed weak, while Poland ended flat.

In the UK market, Hargreaves Lansdown plunged more than 11% on disappointing results. IAG, Rolls-Royce Holdings, Weir Group, British Land Co. and Smiths Group ended lower by 2 to 3.3%.

Polymetal International, Fresnillo, Barratt Developments, Coca-Cola, Informa and Ferguson also ended notably lower.

Scottish Mortgage shares climbed 2.7%. Flutter Entertainment, Ashtead Group, Next, Standard Chartered, Rio Tinto and Barclays Group gained 1 to 1.7%.

Vectura shares gained about 5.5% after the drug maker received a higher bid from Philip Morris International Inc. Deliveroo gained 4.5% after German food delivery group Delivery Hero built a 5% stake in its U.K. rival.

In the French market, Faurecia declined 3.8% and Unibail Rodamco shed about 3.7%. Technip, Safran, Renault, Airbus and Valeo also declined sharply.

Atos gained more than 4% and STMicroElectronics surged up 1.7%. Societe Generale and BNP Paribas posted modest gains.

In Germany, MTU Aero Engines declined nearly 3% and HeidelbergCement ended 2.8% down. Daimler, Lufthansa, Volkswagen and Siemens shed 0.9 to 1.7%.

Merck gained more than 2% and RWE gained about 1.8%. Allianz, Covestro, Adidas and Beiersdorf also closed notably higher.

Data from Destatis showed Germany’s exports grew 1.3% month-on-month in June, following May’s revised 0.4% increase. The rate was expected to climb 0.4% after 0.3% growth initially estimated for May.

Meanwhile, growth in imports eased to 0.6% from 3.4%. Economists had forecast the annual growth to slow to 0.5%.

Eurozone investor confidence weakened in August due to a sharp decline in expectations, survey data from the behavioral research institute Sentix showed.

The euro area Sentix investor confidence index dropped to 22.2 in August from 29.8 in the previous month. Economists had forecast the indicator to fall marginally to 29.0.

The current situation index rose to 30.8 in August from 29.8 in the previous month. This was the highest score since October 2018.

On the other hand, the expectations index dropped sharply to 14.0 from 29.8 in July. With the third consecutive fall, the reading reached its lowest level since May 2020.

Data from the State Secretariat for Economic Affairs showed Switzerland’s jobless rate fell to a seasonally to 3% in July from 3.1% in June. On an unadjusted basis, the unemployment rate remained unchanged at 2.8% in July.