European stocks were mixed on Monday, as investors digested downbeat data and awaited U.S. inflation data and a European Central Bank meeting this week for directional cues.
China’s imports and exports grew again in May, but both missed expectations, official data released earlier in the day showed.
German factory orders dropped 0.2 percent month-on-month in April due to weak domestic demand, in contrast to the 3.9 percent increase seen in March and economists’ forecast of +1.0 percent, data from Destatis revealed.
On the positive side, Sentix’s index for the euro zone climbed to 28.1 from 21.0 in May.
The pan European Stoxx 600 was little changed with a positive bias at 452.68 after closing 0.4 percent higher on Friday.
The German DAX and France’s CAC 40 index were marginally lower, while the U.K.’s FTSE 100 was up 0.3 percent, recovering from an early slide.
Homebuilder Barratt Developments climbed 2.4 percent in London and Taylor Wimpey advanced 2.5 percent after data showed U.K. house prices reached another record high in May.
Miners Antofagasta and Glencore fell 1-2 percent as copper prices dipped on downbeat China export data.
Anglo American lost 2.7 percent after it completed the demerger of its thermal coal operations in South Africa.
Total SE, BP Plc and Royal Dutch Shell were modestly lower as oil prices slipped from two-year highs ahead of talks this week between Iran and world powers over a nuclear deal that is expected to boost crude supplies.
Office space provider IWG plunged 14 percent to hit a four-month low after issuing a profit warning.
Shares of Avacta Group jumped nearly 4 percent. The biotechnology company announced that the MHRA has confirmed registration of its AffiDX SARS-CoV-2 antigen lateral flow test.
French vouchers and cards provider Edenred rallied 3.2 percent after Deutsche Bank upgraded the stock to “buy”.
argenx SE, an immunology company, slumped 6.5 percent after a Johnson & Johnson subsidiary discontinued a collaboration agreement for its anti-CD70 antibody cusatuzuma.
Italian lender Unicredit gained 2.7 percent as Jefferies upgraded the stock to “buy”.
Business News
European Shares Mixed In Choppy Trade
2021-06-07 09:49:37
