European Shares Mixed As Israel Weighs Response To Iranian Attack

(RTTNews) - European stocks traded mixed on Monday as investors weighed Israel's possible response to Iran's unprecedented drone and missile attack, which the Israeli government said caused limited damage.

There was some cheer on the data front as the latest Eurostat figures showed industrial production in the eurozone rebounded in February, led by output increases in larger nations.

The pan European STOXX 600 was up 0.3 percent at 506.51 after edging up 0.1 percent on Friday.

The German DAX climbed 0.7 percent and France's CAC 40 added 0.6 percent while the U.K.'s FTSE 100 dropped half a percent.

Telenor ASA fell about 1 percent. The Norwegian telecom major said its CFO, Tone Hegland Bachke has decided to leave the company to join SHV Holdings N.V.

Swiss software firm Temenos soared 20 percent. The company said a "special committee" formed by its board found that accusations in a report by Hindenburg Research were incorrect and misleading.

Ageas rallied 3 percent on news that France's BNP Paribas would acquire Fosun Group's 9 percent shareholding in the Belgian insurer Ageas for around €730 million.

British nutrition company Glanbia jumped 5 percent after it inked a deal to acquire U.S.- based Flavor Producers LLC for an initial consideration of $300 million.

Facilities management firm Mitie Group surged 8 percent after launching a share buyback.

Inchcape climbed 4.6 percent. The automotive distributor has agreed to sell its UK retail operations to Group 1 Automotive UK for 346 million pounds.

Emerging markets fund manager Ashmore Group tumbled 3.1 percent after its assets under management fell 4 percent over the third quarter of fiscal 2024.

German sportswear maker Adidas jumped 4.3 percent after Morgan Stanley upgraded its rating on the stock to "overweight" from "underweight."