European Markets End On Mixed Note After Cautious Session

(RTTNews) - European stocks turned in a mixed performance on Monday after a cautious session amid concerns about the impact of the ongoing conflict in the Middle East. Investors also looked ahead to the European Central Bank's monetary policy announcement due later this week.

Investors in the UK market also kept an eye on the political developments on the home front with Andy Burnham set to become the UK's new prime minister, marking the country's seventh leader in just over a decade.

The pan European Stoxx 600 closed down by 0.3%. The UK's FTSE 100 shed 0.71%. Germany's DAX and France's CAC 40 edged up marginally, while Switzerland's SMI settled 0.82% down.

Among other markets in Europe, Austria, Czech Republic, Iceland, Poland, Russia and Türkiye closed higher.

Belgium, Denmark, Ireland, Netherlands, Norway and Sweden ended weak, while Finland, Greece, Portugal and Spain closed flat.

In the UK market, Computacenter rallied 5.55%. Diploma, Experian, JD Sports Fashion and Polar Capital Technology Trust gained 1.4%-1.8%. BP, Relx, AutoTrader Group, Convatec, Fresnillo and Whitbread posted modest gains.

Persimmon, Airtel Africa, Barratt Redrow and Metlen Energy & Metals lost 3%-4%. Kingfisher, 3i Group, Bunzl, Halma, Vodafone Group, Howden Joinery Group, Admiral Group, ICG, Severn Trent, GSK and M&G also declined sharply.

In the German market, RWE moved up 3.6%. Siemens Energy and Fresenius gained about 3.4% and 3%, respectively. Zalando climbed 1.5%.

Brenntag, Bayer, Scout24, MTU Aero Engines and Heidelberg Materials lost 2.2%-2.5%. Continental, Vonovia, Merck, BASF, Deutsche Post and Mercedes-Benz also closed weak.

In the French market, STMicroelectronics jumped more than 5.5%. Dassault Systemes, Edenred, BNP Paribas, Eurofins Scientific and EssilorLuxottica gained 1%-1.5%.

Saint-Gobain, LVMH, Safran, Airbus and Teleperformance lost 1%-2%. Renault, Veolia Environment, Michelin, Sanofi and Accor shed 0.5%-1%.

In economic news, data from Destatis showed producer prices in Germany grew 1.8% on a yearly basis in June, after rising by 2.2% in May. On a monthly basis, producer prices dropped 03% in June compared to economists' forecast of 0.2% fall.

Data from Eurostat showed Eurozone construction output increased by 1.2% year-on-year in May, marking the highest level in seven months, following a downwardly revised 0.2% gain in the previous month. On a monthly basis, construction output rose by 0.4% in May, accelerating from a downwardly revised 0.1% increase in the previous month.