European Shares Mostly Lower As Defense Stocks Fall Ahead Of Trump-Putin Talks
(RTTNews) - European stocks were mostly lower on Monday as investors looked ahead to a Russia-U.S. summit this week that could help stop the war in Ukraine.
The pan European STOXX 600 was marginally lower at 547.04 after rising 0.2 percent on Friday.
The German DAX and France's CAC 40 both were down around 0.3 percent while the U.K.'s FTSE 100 was up 0.2 percent ahead of the U.K. employment and the U.S. CPI data due on Tuesday.
German steelmaker Salzgitter fell about 1 percent after widening its Q2 loss and cutting its FY25 outlook.
Defense stocks traded lower, with Hensoldt falling 2 percent and Rheinmetall plunging nearly 5 percent, after U.S. President Donald Trump suggested that a potential agreement to end the more than three-year old conflict in Ukraine could see the swapping of territory by both sides.
Vistry Group, a prominent player in the housing and construction industry, rose over 1 percent in London after announcing the continuation of its £130 million share buyback program.
Marshalls declined 1.7 percent as the building materials producer posted half-year results showing substantially softer profits.
Drug maker GSK gained 1.2 percent. The U.S. FDA has accepted its application for priority review of gepotidacin, an oral antibiotic to treat sexually transmitted uncomplicated gonorrhoea.
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