By RTT News,
January 20, 2014, 05:56:00 AM EDT
(RTTNews.com) - European stocks fell slightly on Monday as investors paused for breath after a two-week rally amid some mixed data out of China and disappointing results from German lender Deutsche Bank.
The Euro Stoxx 50 index of eurozone bluechip stocks is down 0.2 percent and the Stoxx Europe 50 index, which includes some major U.K. companies, is declining 0.1 percent, while the key benchmark indexes in the U.K, France and Germany are down between 0.1 percent and 0.3 percent.
Deutsche Bank AG is tumbling 4.6 percent in Frankfurt after the lender reported fourth quarter net loss of 965 million euros, citing weakening revenue and heavy costs for litigation and restructuring. The bank is facing inquiries from country's top regulator Bafin for suspected manipulation of benchmark gold and silver prices.
Bayer AG is rising 0.2 percent as the conglomerate said it has commenced a public takeover offer for all the shares of Algeta ASA, a Norwegian developer of novel targeted therapies for cancer patients, for 362 Norwegian kroner per share in cash.
Peugeot Citroen shares are down nearly 6 percent in Paris after the French carmaker posted 2013 worldwide sales of 2.82 million, down 4.9 percent from 2012. Separately, Peugeot's board has approved plans to inject a total three billion euros (RM13.3 billion) into the company.
Vinci SA is gaining 0.8 percent. Following three years of intensive work with the Greek government and its financial partners, the French builder announced the resumption of construction work on the 365 km motorway between Athens and Tsakona and the 240 km motorway section between Maliakos Bay and Kleidi.
Royal Dutch Shell Plc. shares are declining 0.9 percent in London. The European oil giant announced it has agreed to sell its 8 percent equity stake in the Wheatstone-Iago Joint Venture and 6.4 percent interest in the 8.9 million tons per annum Wheatstone LNG project in Western Australia for $1.135 billion cash to the Kuwait Foreign Petroleum Exploration Co.
On the economic front, German producer prices declined for the fifth consecutive month in December, the Federal Statistical Office (Destatis) reported. Producer prices dropped 0.5 percent from the preceding year, which was slower than the 0.8 percent fall seen in November and the 0.6 percent decline forecast by economists.
Separately, new orders received by Italy's industrial sector increased in November compared with the previous month, data released by statistical office Istat showed. The seasonally adjusted new orders index rose 2.3 percent in November from the previous month.
Elsewhere, the Asian markets ended mostly lower after a slew of Chinese data sent mixed signals to investors worried about slowing growth in the world's second-largest economy. The U.S. markets will be closed tonight for the Martin Luther King Jr. Day holiday.
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