Investing.com - European stock markets were mixed on Monday, amid ongoing concerns over the debt crisis in the single currency bloc as French and German leaders prepared to hold talks later in the day.
During European afternoon trade, the EURO STOXX 50 rose 0.49%, France’s CAC 40 advanced 0.47%, while Germany’s DAX 30 eased up 0.06%.
German Chancellor Angela Merkel and French President Nicolas Sarkozy were to meet to discuss proposals to tighten coordination of fiscal policy in the single currency bloc.
Sentiment found mild support earlier after official data showed that German exports jumped 2.5% in November; unexpectedly increasing the trade surplus and easing concerns over a slowdown in Europe’s largest economy.
But gains were limited as concerns over the ability of troubled euro zone nations to fulfill their sovereign funding needs continued to weigh, ahead of government debt auctions by Spain and Italy later in the week.
Financial stocks were mixed as shares in German Deutsche Bank tumbled 1.63% and France’s Societe Generale plummeted 2.18%, while Dutch lender ING Group climbed 0.82%.
Meanwhile, Unicredit plunged 11.29% after posting sharp losses for three straight days last week, when it announced a massive discount on a rights issue.
On the upside, French automaker Renault added 0.95% after Citigroup upped its rating to "buy" from "neutral", citing valuation and the company's growing non-Europe focus as positive factors.
In London, FTSE 100 edged 0.04% lower despite strong gains in the energy sector.
Energy stocks were broadly higher with International Power surging 1.40% and Fresnillo jumping 1.26%, while mining giants Bhp Billiton and Rio Tinto rose 0.36% and 0.63% respectively.
Elsewhere, U.K. lenders were mixed as shares in the Royal Bank of Scotland advanced 0.68%, while Barclays and HSBC Holdings declined 0.38% and 0.56% respectively.
Meanwhile, Persimmon Plc soared 4.16%, posting its eighth day of gains for the longest winning streak since 2004 after the U.K.’s second-largest homebuilder said 2011 results will be toward the top end of analyst estimates. The company also forecast a 50% increase in pretax profit.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.23%, S&P 500 futures signaled a 0.19% gain, while the Nasdaq 100 futures indicated a 0.39% increase.
Also Monday, a report showed that investor confidence in the euro zone improved more-than-expected this month, but remained in negative territory for the sixth consecutive month.
During European afternoon trade, the EURO STOXX 50 rose 0.49%, France’s CAC 40 advanced 0.47%, while Germany’s DAX 30 eased up 0.06%.
German Chancellor Angela Merkel and French President Nicolas Sarkozy were to meet to discuss proposals to tighten coordination of fiscal policy in the single currency bloc.
Sentiment found mild support earlier after official data showed that German exports jumped 2.5% in November; unexpectedly increasing the trade surplus and easing concerns over a slowdown in Europe’s largest economy.
But gains were limited as concerns over the ability of troubled euro zone nations to fulfill their sovereign funding needs continued to weigh, ahead of government debt auctions by Spain and Italy later in the week.
Financial stocks were mixed as shares in German Deutsche Bank tumbled 1.63% and France’s Societe Generale plummeted 2.18%, while Dutch lender ING Group climbed 0.82%.
Meanwhile, Unicredit plunged 11.29% after posting sharp losses for three straight days last week, when it announced a massive discount on a rights issue.
On the upside, French automaker Renault added 0.95% after Citigroup upped its rating to "buy" from "neutral", citing valuation and the company's growing non-Europe focus as positive factors.
In London, FTSE 100 edged 0.04% lower despite strong gains in the energy sector.
Energy stocks were broadly higher with International Power surging 1.40% and Fresnillo jumping 1.26%, while mining giants Bhp Billiton and Rio Tinto rose 0.36% and 0.63% respectively.
Elsewhere, U.K. lenders were mixed as shares in the Royal Bank of Scotland advanced 0.68%, while Barclays and HSBC Holdings declined 0.38% and 0.56% respectively.
Meanwhile, Persimmon Plc soared 4.16%, posting its eighth day of gains for the longest winning streak since 2004 after the U.K.’s second-largest homebuilder said 2011 results will be toward the top end of analyst estimates. The company also forecast a 50% increase in pretax profit.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a rise of 0.23%, S&P 500 futures signaled a 0.19% gain, while the Nasdaq 100 futures indicated a 0.39% increase.
Also Monday, a report showed that investor confidence in the euro zone improved more-than-expected this month, but remained in negative territory for the sixth consecutive month.