European stocks were little changed on Monday, even as higher commodity prices boosted mining and energy stocks.
The euro was under pressure in the absence of high-tier data releases.
ECB policymaker Gediminas Simkus said today that rates could get lower than the natural level between 2 percent and 3 percent, if a fall in inflation becomes entrenched.
The pan-European STOXX 600 was marginally lower at 524.56 after rising 0.2 percent on Friday.
The German DAX dipped 0.3 percent, France’s CAC 40 shed 0.2 percent and the U.K.’s FTSE 100 was little changed with a positive bias.
The British pound weakened amid strength in the dollar but remained above the $1.30 level.
Miners Anglo American, Antofagasta and Glencore were up between half a percent and 1.2 percent in London.
Energy giant BP Plc rose nearly 2 percent and peer Shell added 1.1 percent.
FirstGroup rose 1.3 percent after confirming the acquisition of coach company Anderson Travel.
Hollywood Bowl rallied 2.5 percent. The ten-pin bowling operator said it expects to beat market forecasts for adjusted earnings in fiscal 2024.
Finnish network company Nokia Oyj advanced 1.7 percent as it announced a new partnership with Vietnam Posts and Telecommunications Group to deploy 5G technology.
Dutch coffee maker JDE Peets soared 16 percent after appointing a new CEO and confirming its 2024 outlook.
Norway’s biggest lender DNB Bank rose about half a percent after it has entered into an agreement to acquire all the shares of Carnegie Holding AB, from Altor and the minority shareholders for a total consideration of approximately 12 billion Swedish kronor.
French pharmaceutical company Sanofi was moving lower after it has entered into exclusive negotiations to sell a 50 percent controlling stake in its consumer healthcare business, Opella, to private equity firm CD&R.
Forvia, the world’s seventh largest car parts supplier by revenue, surged 8.3 percent after beating Q3 sales expectations.
German software firm SAP edged up slightly ahead of its earnings release.
Reinsurance giant Munich Re fell more than 2 percent after Jefferies cut its rating on the stock.
European Shares Lack Direction In Cautious Trade
2024-10-21 09:29:44
