European Stocks Close Weak After Cautious Session

RTTNews | 67 hari yang lalu

(RTTNews) - European markets settled lower on Monday after a subdued performance as investors awaited the outcome of U.S.-China high-level trade talks in London. Also, a lack of regional economic data and earnings news contributed to the cautious mood in the markets.

The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.

The meeting happens following last week's direct phone call between U.S. President Donald Trump and Chinese President Xi Jinping.

The pan European Stoxx 600 ended down 0.11%. The U.K.'s FTSE 100 and France's CAC 40 edged down by 0.13% and 0.07%, respectively. Germany's DAX closed down 0.55%. The Switzerland market was closed today due to the observance of Pentecost.

Among other markets in Europe, Austria, Czech Republic, Portugal, Russia and Sweden closed weak.

Belgium, Finland, Ireland, Netherlands and Poland ended higher, while Spain settled flat.

In the German market, Siemens Energy ended nearly 3% down. SAP, Beiersdorf, Allianz and Deutsche Boerse ended lower by 1.3 to 1.7%.

Puma climbed about 4.5%. Infineo, BASF, Adidas, Daimler Truck Holding, Sartorius and Qiagen gained 0.7 to 1.5%.

In the French market, Saint Gobain lost about 2%. Sanofi, Schneider Electric, STMicroElectronics, Thales, AXA, Societe Generale and L'Oreal closed down 0.6 to 1.1%.

Pernod Ricard rallied about 3.2%. Teleperformance and Kering gained 2.8% and 2.5%, respectively. Credit Agricole, Renault, Accor, Stellantis, BNP Paribas and Vivendi closed up 0.4 to 1.3%.

In the UK market, WPP ended down by about 2.7%, after an announcement that Mark Read, Chief Executive Officer (CEO), will retire from the Board and as CEO on 31 December 2025.

Hiscox ended down 2.4%. Aviva, Marks & Spencer, Haleon, Endavour Mining, Tesco, Smith & Nephew, Relx, BT Group and Babcock International Group lost 1 to 2%.

Melrose Industries rallied 3.6%, Spirax Group gained 3.3% and M&G climbed 3.04%. JD Sports Fashion, Fresnillo, IMI, Diageo, Taylor Wimpey, IAG, Croda International, 3i Group, Persimmon, Halma, Entain, Howden Joinery, Glencore and Segro gained 1 to 2.5%.

Alphawave IP Group Plc shares soared nearly 23% after Qualcomm agreed to buy the London-listed semiconductor company for about $2.4 billion in cash.

Shares of cosmetics firm Revolution Beauty Inc zoomed more than 10% after the company confirmed that Frasers Group is one of several parties currently conducting due diligence as part of its ongoing formal sale process.

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EURUSD	1.1698	GBPUSD	1.3551	AUDUSD	0.6504
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