European Markets Close Higher

European markets closed slightly higher on Monday after a somewhat cautious session as investors looked ahead to some crucial economic data, including inflation numbers from the U.S.

Activity was a bit stock specific with the latest quarterly results and other corporate news providing some direction. Investors also continued to follow updates about coronavirus cases and vaccination campaign from across the world.

The pan European Stoxx 600 ended 0.22% up. The U.K.’s FTSE 100 edged up 0.12% and France’s CAC 40 climbed 0.43%. Germany’s DAX slid 0.1%, while Switzerland’s SMI gained 0.52%.

Among other markets in Europe, Austria, Belgium, Denmark, Iceland, Ireland, Russia, Spain and Turkey closed higher. Czech Republic edged up marginally.

Netherlands, Norway, Poland and Sweden ended weak, while Finland, Greece and Portugal closed weak.

In the UK market, BT Group climbed 3.7%. IAG, Persimmon, Rolls-Royce Holdings, Informa, Admiral Group, Land Securities, Barratt Developments, WPP, Barclays Group, CRH, British American Tobacco, Royal Mail and Lloyds Banking Group gained 1.4 to 2.8%.

Anglo American, Antofagasta, B&M, Polymetal International, Glencore, Weir Group, Rio Tinto and BHP Group shed 1 to 3.2%.

In the French market, Unibail Rodamco climbed more than 2.5%. Publicis Groupe, Michelin, Thales, Bouygues, Essilor, Airbus Group and Sodexo gained 1 to 1.5%.

STMicroElectronics, ArcelorMittal and Saint Gobain ended notably lower.

In Germany, Continental, BMW, MTU Aero Engines, Beiersdorf, Deutsche Telekom, Deutsche Post, Lufthansa, Daimler and Merck closed on firm note.

Linde declined by about 3%. Infineon Technologies, Munich RE, Thyssenkrupp, Volkswagen and E.On also closed weak.

In economic news, data from Destatis showed German factory orders dropped 0.2% month-on-month in April due to weak domestic demand, in contrast to the 3.9% increase seen in March. Economists expected factory orders to rise 1%.

On the positive side, Sentix’s index for the euro zone climbed to 28.1 from 21.0 in May.

UK house prices increased at the fastest pace in nearly seven years in May driven by the easing of national lockdown restrictions and the gradual reopening of the housing market, data from Lloyds Bank subsidiary Halifax and IHS Markit showed. Monday.

House prices grew 9.5% year-on-year in May, following April’s 8.2% rise. But this was slower than the 10% increase expected by economists. On a monthly basis, house price growth eased to 1.3% in May from 1.5% in April. Economists had forecast prices to climb 1.2%.