Investing.com -- European markets closed mostly higher on Monday as investors closely monitored the release of European manufacturing PMI data and Italy’s GDP figures.
Germany’s DAX index finished the day up 1.6%, France’s CAC 40 was essentially flat edging 0.02% higher, and the UK’s FTSE 100 gained 0.3%.
Stellantis faces leadership turmoil
Stellantis (EPA:STLAM), the automaker behind brands like Fiat (BIT:STLAM), and Peugeot (OTC:PUGOY), entered the spotlight following the unexpected resignation of CEO Carlos Tavares.
Tavares stepped down due to “differences of opinion” with the board, departing ahead of his planned 2026 retirement, the company said on Sunday.
In the interim, Chairman John Elkann will lead a temporary executive committee until a new CEO is appointed, expected in the first half of 2024.
Stellantis faces headwinds, including sluggish sales, high inventory levels in North America, fierce competition from Chinese automakers, and the industry-wide pivot toward electric vehicles.
U.K. housing market surprises
In the U.K. housing market, Nationwide reported a 1.2% month-on-month increase in house prices for November, exceeding the 0.2% rise predicted by a Reuters economist poll.
On an annual basis, house prices grew by 3.7%, up from 2.4% in October, marking the fastest year-over-year growth in two years.
Crude oil prices rise on positive Chinese data and Middle East tensions
Crude oil prices edged lower Monday, despite initially rising based on boosted by encouraging factory output figures from China and the ongoing conflict in the Middle East.
By 11:45 ET, Brent crude fell 0.2% to $71.69 per barrel, while U.S. crude (WTI) was down 0.3% at $67.81 per barrel.
(Navamya Acharya contributed to this article.)