VIENNA (dpa-AFX) - The majority of the European markets ended Monday's session in positive territory. European manufacturing data helped investors to get past the disappointing performance of the Asian markets.
The Greek stock market reopened today after being shuttered for the past 5 weeks. The market sold-off sharply and finished the session with a loss of over 16 percent.
Markets in Asia finished broadly lower on Monday. Weak energy prices and downbeat Chinese manufacturing data weighed on investor sentiment. Also, manufacturing PMI surveys across much of Asia painted a bleak picture, spurring concerns over global economic growth.
The Euro Stoxx 50 index of eurozone bluechip stocks increased by 0.96 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.62 percent.
The DAX of Germany climbed by 1.19 percent and the CAC 40 of France rose by 0.75 percent. The FTSE of the U.K. fell by 0.11 percent, but the SMI of Switzerland finished higher by 0.43 percent.
In Frankfurt, Commerzbank rose by 2.29 percent, after the lender said its second-quarter profit more-than doubled from last year, with significant growth in Core Bank revenues. Deutsche Bank finished up by 1.46 percent.
Daimler, Volkswagen and BMW finished moderately lower, but Audi advanced by 1.43 percent. Finnish network equipment maker Nokia has agreed to sell its HERE digital mapping and location services business to a consortium, comprising AUDI, BMW and Daimler AG. Meanwhile, Nokia fell by 0.62 percent in Helsinki.
Fresenius increased by 3.64 percent and Fresenius Medical Care added 2.88 percent.
Deutsche Telekom gained 2.92 percent and Deutsche Post rose by 2.02 percent.
In Paris, Lafarge climbed by 5.61 percent. The European Commission said it has decided to close an antitrust investigation opened in December 2010 against a number of European cement manufacturers.
Technip fell by 1.81 percent and Total lost 0.28 percent.
In London, Intertek surged by 11.34 percent after its first-half pre-tax profit increased.
Rolls-Royce advanced by 5.92 percent, after ValueAct increased its stake in the company to over 5 percent.
HSBC rose by 0.28 percent, after it reported a 10 percent increase in its profit before tax for the first half of the year. HSBC also said that on July 31 it agreed to sell its Brazil business to Banco Bradesco S.A. for $5.2 billion.
Mining stocks were under pressure, due to the disappointing Chinese manufacturing report. Anglo American dropped by 3.97 percent and BHP Billiton lost 3.85 percent. Glencore fell by 3.68 percent and Rio Tinto decreased by 2.17 percent. Fresnillo also declined by 2.16 percent.
Heineken gained 5.56 percent in Amsterdam. The company's first-half net profit rose and it reaffirmed its full-year outlook.
The euro area manufacturing sector continued to expand in July despite deep contraction in Greece, final data from Markit Economics showed Monday. The manufacturing Purchasing Managers' Index came in at 52.4 in July, slightly above the flash estimate of 52.2, but down from June's 14-month high of 52.5.
Germany's manufacturing sector expanded more than initially estimated in July, data published by Markit showed Monday. The Markit/BME final Purchasing Managers' Index came in at 51.8 in July, above the flash score of 51.5, but down from 51.9 in June.
The French manufacturing sector shrank as initially estimated in July, final data from Markit Economics showed Monday. The Purchasing Managers' Index fell to 49.6 in July from 50.7 in June. The reading came in line with the flash estimate.
The U.K. manufacturing sector growth improved in July but new order growth eased to a 10-month low, casting concerns over the sustainability of future momentum. The Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index rose to 51.9 in July from a 26-month low of 51.4 in June, data from Markit revealed Monday. It was forecast to rise marginally to 51.5.
The downturn in China's manufacturing sector intensified as renewed declines in orders and production took the latest level of operation to the weakest since July 2013.
The Caixin Purchasing Managers' Index dropped to a 2-year low of 47.8 in July from 49.4 in June and the score was below the neutral 50.0 mark for the fifth successive month, results from Markit revealed Monday. It was also weaker than the flash score of 48.2.
Personal income in the U.S. increased by slightly more than expected in the month of June, according to a report released by the Commerce Department on Monday. The report said personal income rose by 0.4 percent in June, matching the increases seen in each of the two previous months. Economists had expected income to climb by 0.3 percent.
The Commerce Department also said personal spending edged up by 0.2 percent in June after rising by 0.7 percent in May. The modest increase matched economist estimates.
Activity in the U.S. manufacturing sector unexpectedly grew at a slower rate in the month of July, the Institute for Supply Management revealed in a report on Monday. The ISM said its purchasing managers index dipped to 52.7 in July from 53.5 in June, although a reading above 50 indicates continued growth in the manufacturing sector.
The decrease came as a surprise to economist, who had expected the manufacturing index to inch up to a reading of 53.7.
Construction spending in the U.S. increased by much less than expected in the month of June, according to a report released by the Commerce Department on Monday.
The report said construction spending inched up by 0.1 percent to an annual rate of $1.065 trillion in June from the revised May estimate of $1.064 trillion. Economists had expected spending to climb by 0.6 percent.
Copyright RTT News/dpa-AFX