Investing.com - European stock markets were mixed on Monday, as weak euro zone economic data dented market sentiment while investors eyed the release of U.S. manufacturing data later in the day for signs of further economic recovery.
During European afternoon trade, the EURO STOXX 50 dropped 0.64%, France’s CAC 40 fell 0.42%, while Germany’s DAX 30 inched 0.04% higher.
Stocks came under pressure after official data showed that the unemployment rate in the region ticked up to a record high of 10.8% in February from 10.7% the previous month, broadly in line with expectations.
Market sentiment found support earlier as concerns over Chinese economic growth eased after data showed that the manufacturing activity in China rose more-than-expected in March.
In addition, euro zone finance ministers agreed on Friday to strengthen the bloc’s debt firewall, but fears remained over whether the measures would be enough to prevent contagion to Spain and Italy.
Financial stocks extended earlier losses as shares in French lenders Societe Generale and BNP Paribas plummeted 3.12% and 2.32%, while Germany’s Deutsche Bank and Commerzbank declined 1.22% and 0.95% respectively.
Meanwhile, mining companies were mixed, erasing some of the morning’s gains. Shares in German power and gas company E.ON AG fell 0.22% and electric utilities firm RWE AG dropped 0.94%, while France’s oil and gas giant Total jumped 1.31%.
Total said earlier that it was preparing to fly experts to a North Sea oil platform to plan how to cap a well that has been spewing gas for the past week.
On the upside, Cimpor-Cimentos de Portugal SGPS SA saw shares soar 8.80% after Brazil’s Camargo Correa offered to buy the shares it doesn’t already own in the company for EUR2.48 billion.
In London, FTSE 100 edged 0.03% lower, as U.K. lenders tracked their European counterparts sharply lower.
Lloyds Banking led losses, with shares plummeting 2.54%, closely followed by Barclays, tumbling 2.21%, while HSBC Holdings and the Royal Bank of Scotland declined 1.75% and 1.12%.
Rio Tinto Group, the world’s third-largest mining company, remained one of the session’s top gainers however with shares jumping 1.07%, while Bhp Billiton advanced 0.55%.
Elsewhere, Cookson Group rallied 4.05% after the Sunday Times reported the world’s biggest maker of ceramic linings for metal smelters may spin off its electronics unit.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a fall of 0.08%, S&P 500 futures signaled a 0.01% loss, while the Nasdaq 100 futures indicated a 0.03% decline.
Later in the day, the U.S. was to release a report by the Institute of Supply Management on manufacturing activity.
During European afternoon trade, the EURO STOXX 50 dropped 0.64%, France’s CAC 40 fell 0.42%, while Germany’s DAX 30 inched 0.04% higher.
Stocks came under pressure after official data showed that the unemployment rate in the region ticked up to a record high of 10.8% in February from 10.7% the previous month, broadly in line with expectations.
Market sentiment found support earlier as concerns over Chinese economic growth eased after data showed that the manufacturing activity in China rose more-than-expected in March.
In addition, euro zone finance ministers agreed on Friday to strengthen the bloc’s debt firewall, but fears remained over whether the measures would be enough to prevent contagion to Spain and Italy.
Financial stocks extended earlier losses as shares in French lenders Societe Generale and BNP Paribas plummeted 3.12% and 2.32%, while Germany’s Deutsche Bank and Commerzbank declined 1.22% and 0.95% respectively.
Meanwhile, mining companies were mixed, erasing some of the morning’s gains. Shares in German power and gas company E.ON AG fell 0.22% and electric utilities firm RWE AG dropped 0.94%, while France’s oil and gas giant Total jumped 1.31%.
Total said earlier that it was preparing to fly experts to a North Sea oil platform to plan how to cap a well that has been spewing gas for the past week.
On the upside, Cimpor-Cimentos de Portugal SGPS SA saw shares soar 8.80% after Brazil’s Camargo Correa offered to buy the shares it doesn’t already own in the company for EUR2.48 billion.
In London, FTSE 100 edged 0.03% lower, as U.K. lenders tracked their European counterparts sharply lower.
Lloyds Banking led losses, with shares plummeting 2.54%, closely followed by Barclays, tumbling 2.21%, while HSBC Holdings and the Royal Bank of Scotland declined 1.75% and 1.12%.
Rio Tinto Group, the world’s third-largest mining company, remained one of the session’s top gainers however with shares jumping 1.07%, while Bhp Billiton advanced 0.55%.
Elsewhere, Cookson Group rallied 4.05% after the Sunday Times reported the world’s biggest maker of ceramic linings for metal smelters may spin off its electronics unit.
In the U.S., equity markets pointed to a moderately lower open. The Dow Jones Industrial Average futures pointed to a fall of 0.08%, S&P 500 futures signaled a 0.01% loss, while the Nasdaq 100 futures indicated a 0.03% decline.
Later in the day, the U.S. was to release a report by the Institute of Supply Management on manufacturing activity.