Bankia CEO Jose Sevilla delivers his speech during the presentation of the company’s results in Madrid yesterday. Bankia shares gained 1.31% after it reported its first-half net profit rose by almost half as its losses from bad loans dropped.
AFP
Europe’s stock markets closed mixed yesterday, starting the week on a tepid note as traders weighed a raft of corporate news ahead of a big week for economic data.
London’s benchmark FTSE 100 index inched down 0.05% to end the day at 6,788.07 points in the British capital.
In Paris, the CAC 40 gained 0.33% to 4,344.77 points while Frankfurt’s DAX 30 index fell 0.48% from Friday’s close to 9,598.17 points.
“European markets didn’t do too much today with late losses from US data ahead of a big week for global economic reports and corporate earnings,” said Jasper Lawler, a market analyst at CMC Markets UK.
“The match really kicks off tomorrow (today) for markets with the release of the US consumer confidence report and results from the likes of BP and Twitter.”
Dealers are expected to focus on July non-farm payroll data due Friday out of Washington.
Wall Street stocks also kicked off the busy week of earnings and economic data lower, with the Dow Jones Industrial Average shedding 0.14% to 16,937.11 in mid-afternoon trading.
The broad-based S&P dipped 0.19% to 1,9774.65, while the tech-rich Nasdaq Composite Index fell 0.37% at 4,433.32.
Stocks in Moscow slid to two-and-a-half month lows amid fears the EU will impose its first sector-wide sanctions on Russia over its alleged support of rebels in Ukraine.
The benchmark ruble-denominated Micex index ended down 1.9% and the dollar-based RTS index lost 3%.
Meanwhile an international court ordered Russia to pay Yukos shareholders a record $50bn in compensation over its seizure of the defunct oil giant, in a fresh blow for Moscow.
In European corporate news, Reckitt Benckiser shares jumped to the top of the FTSE risers’ board, after the British household goods company unveiled plans to spin off its pharmaceuticals division.
Reckitt’s share price gained 2.66% to settle at 5,205 pence after the group also revealed that first-half net profits jumped by almost a quarter.
Spain’s last big nationalised bank, Bankia, gained 1.31% in Madrid after it reported its first-half net profit rose by almost half as its losses from bad loans dropped.
Ryanair rose 3% after the Irish low-fare airline raised its profit guidance for the whole year, forecasting rising passenger numbers and falling costs.
In foreign exchange activity on Monday, the European single currency firmed to $1.3440 from $1.3430.
The euro was largely flat at 79.11 British pence, compared to 79.10 on Friday. The pound increased to $1.6990 from $1.6973.
The price of gold advanced to $1,304.50 an ounce on the London Bullion Market from $1,294.75 on Friday.
