Shutterstock photo
Markets

European stocks decline amid Iraq concerns; Dax down 0.15%

Shutterstock photo

Shutterstock photo

Investing.com -

Investing.com - European stocks were lower on Monday, as concerns over violence in Irak continued to weigh on global equity markets, while investors eyed upcoming euro zone inflation data.

During European morning trade, the DJ Euro Stoxx 50 shed 0.35%, France's CAC 40 edged down 0.19%, while Germany's DAX slipped 0.15%.

Concerns over the ongoing Sunni insurgency in Iraq continued to weigh on market sentiment, amid fears over the impact of reduced oil supply from one of the world's largest producers on global growth.

Financial stocks were mixed, as Societe Generale (PARIS:SOGN) slid 0.40% and BNP Paribas (PARIS:BNPP) jumped 1.18% in France, while Germany's Deutsche Bank (XETRA:DBKGn) dropped 0.50%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) rose 0.30% and 0.52% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) fell 0.03% and 0.30%.

Elsewhere, Swiss biotech company Actelion (SIX:ATLN) soared 14.79% after it reported success with an experimental heart and lung drug called Selexipag.

In London, FTSE 100 dipped 0.02%, led by Smith & Nephew (LONDON:SN), down 2.94%, would-be suitor Medtronic (NYSE:MDT) agreed to buy another orthopaedic rival, Covidien (NYSE:COV), instead.

Financial stocks were also mostly lower, as Barclays (LONDON:BARC) slipped 0.12% and HSBC Holdings (LONDON:HSBA) edged down 0.11%, while Lloyds Banking (LONDON:LLOY) shed 0.34%. The Royal Bank of Scotland (LONDON:RBS) overperformed however, rising 0.16%.

In the mining sector, stocks were broadly higher. Glencore Xstrata (LONDON:GLEN) saw shares climb 0.50% and Rio Tinto (LONDON:RIO) advanced 0.76%, while Vedanta Resources (LONDON:VED) rose 0.72% and Bhp Billiton (LONDON:BLT) led gains on the index, with shares up 1.15%.

In the U.S., equity markets pointed to a lower open. The Dow 30futures pointed to a 0.15% fall, S&P 500futures signaled a 0.21% decline, while the Nasdaq 100futures indicated a 0.18% loss.

Later in the day, the euro zone was to release preliminary data on consumer price inflation, while the U.S. was to produce data on industrial production and manufacturing activity in the Empire State.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com Stocks & Forex App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx