BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The majority of the European markets ended the first trading day of the new week in negative territory. Airline stocks were under pressure after Ryanair warned of increased competition in the months ahead. Automakers also weakened after EU antitrust regulators said they are investigating allegations of a cartel among a group of German carmakers.
Traders were also in a cautious mood ahead of the upcoming policy statement from the Federal Reserve on Wednesday. The Fed is widely expected to leave rates unchanged, but traders will be keeping a close watch on the accompanying statement for any clues about future rate hikes.
The pan-European Stoxx Europe 600 index weakened by 0.41 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.04 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.44 percent.
The DAX of Germany dropped 0.25 percent, but the CAC 40 of France fell 0.20 percent. The FTSE 100 of the U.K. declined 1.01 percent and the SMI of Switzerland finished lower by 0.45 percent.
In Frankfurt, automakers BMW, Daimler and Volkswagen tumbled 2.5 to 3 percent after reports that EU regulators are studying reports of cartel among German carmakers.
In Paris, Renault dropped 0.31 percent and rival Peugeot fell 1.30 percent.
In London, Ryanair lost 1.38 percent after the budget airline said it expects the pricing environment to remain very competitive in the second half of the year.
British Airways owner International Airlines Group fell 0.76 percent and easyJet shed 2.82 percent.
Reckitt Benckiser Group declined 3.27 percent after the consumer goods giant reduced its annual net revenue target to 2 percent from 3 percent.
B&M European Value Retail increased 4.87 percent. The Sunday Times reported that Asda, the U.K. supermarket arm of Wal-Mart Stores, is considering a 4.4 billion pounds ($5.7 billion) takeover of the British discount retailer.
Gemalto plunged 19.73 percent in Amsterdam after the digital security company announced a goodwill impairment charge of around 420 million euros ($489 million).
Philips Electronics gained 4 percent after the consumer electronics giant reported a rise in second-quarter net income from continuing operations on higher sales and orders.
Julius Baer jumped 4.47 percent in Zurich after reporting a 6 percent rise in assets under management in the first six months of 2017.
Eurozone private sector started the third quarter on a solid footing, but the pace of growth slowed for the second successive month in July, largely due to the moderation in the manufacturing sector. The composite output index fell to a 6-month low of 55.8 in July from 56.3 in June, flash data from IHS Markit showed Monday. The reading was expected to drop marginally to 56.2.
German private sector output growth slowed for the second month in July, flash survey data from IHS Markit showed Monday. The composite output index slid to 55.1 in July from 56.4 in June. This was the weakest expansion since January.
France's private sector output grew at the slowest pace in six months in July, flash survey data from IHS Markit showed Monday. The composite output index fell to a 6-month low of 55.7 in July from 56.6 in June.
Copyright RTT News/dpa-AFX