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European stocks edge lower on Ukraine clashes; Dax down 0.29%

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Investing.com -

Investing.com - European stocks edged lower on Monday, as investors remained cautious amid ongoing tensions in Ukraine and as downbeat Chinese manufacturing data weighed.

During European morning trade, the DJ Euro Stoxx 50 fell 0.20%, France's CAC 40 shed 0.30%, while Germany's DAX slid 0.29%.

Markets were jittery after clashes broke out in at six cities in eastern Ukraine over the weekend while pro-Russian forces overran a police station in Odessa, freeing close to 70 activists held there.

The events came after the death of 46 people on Friday, marking the bloodiest day since the ousting of Viktor Yanukovich from the Ukrainian presidency in February.

Elsewhere, data showed that China's HSBC manufacturing purchasing managers' index came in at 48.1, down from a preliminary estimate of 48.3 and missing forecasts for an uptick to 48.4.

Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) declined 0.63% and 0.88%, while Germany's Deutsche Bank (XETRA:DBKGn) dropped 0.56%.

Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) slipped 0.27%, while Spanish banks Banco Santander (MADRID:SAN) and BBVA (MADRID:BBVA) slid 0.32% and 0.54% respectively.

Wacker Chemie (XETRA:WCHG) added to losses, down 2.47%, after the German chemical maker reported earnings below market estimates.

Swatch Group (SIX:UHR) added 0.20% on the other hand, following reports it took action against Apple over its use of the iWatch label, considered to be too similar to the Swiss company's own iSwatch product.

In London, FTSE 100 remained closed for a national holiday.

In the U.S., equity markets pointed to a steady open. The Dow 30futures pointed to a 0.02% dip, S&P 500futures signaled a 0.01% downtick, while the Nasdaq 100futures indicated a 0.05% gain.

Later in the day, the Institute of Supply Management was to publish a report on U.S. service sector activity.

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

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