European shares traded mixed on Monday after notching two-year highs in the previous session, thanks to some upbeat quarterly earnings and signs of cooling inflation in the euro area.
The pan European STOXX 600 was marginally higher at 484.31 ahead of a slew of economic data releases, mega tech earnings and key central bank decisions in the U.S. and U.K. due this week.
Readings on Chinese factory activity, U.S. monthly jobs and preliminary euro zone growth for the fourth quarter also remain on investors’ radar.
The German DAX dropped 0.4 percent, while France’s CAC 40 edged up 0.1 percent and the U.K.’s FTSE 100 was up 0.3 percent.
In corporate news, Swiss building materials firm Holcim soared 4.3 percent as it announced plans to spin off its North American operations in a flotation.
Iron ore pellet producer Ferrexpo fell 2.6 percent after a Ukraine’s court of appeal has confirmed a claim against it for around $125m.
Budget airline Ryanair lost 2 percent after trimming its annual profit forecast for the year to the end of March.
Philips shares slumped 5 percent. The Dutch medical device maker said it would halt new sales of sleep machines in the U.S. after a series of recalls that continued to weigh on results.
Bayer was down 4.8 percent. The German pharmaceutical giant was ordered by a U.S. court to pay $2.25 billion in damages to a former Roundup user.
Satellite company Eutelsat plummeted 16 percent after cutting its annual revenue guidance.
European Shares Mixed Ahead Of Busy Week
2024-01-29 09:17:42
