BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets were stuck in a sideways pattern throughout Monday's session. While markets in Europe were little changed overall, the majority finished with small losses. Traders were in a cautious mood ahead of a slew of corporate earnings and some big events later this week.
Janet Yellen will preside over her final meeting as Federal Reserve Chair on Tuesday and Wednesday, while Bank of England Governor Mark Carney will speak before the U.K. Parliament's Economic Affairs Committee in London on Tuesday. The closely-watched U.S. jobs report, Chinese manufacturing and services sector data and President Trump's first State of the Union address are also set for this week.
Despite the lackluster action on the first day of the new trading week, there were some bright spots. Shares of chip-makers rallied Monday after a strong report from AMS. Mining stocks also turned in a solid performance due to rising copper prices.
The pan-European Stoxx Europe 600 index weakened by 0.22 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.12 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.21 percent.
The DAX of Germany dropped 0.12 percent and the CAC 40 of France fell 0.14 percent. The FTSE 100 of the U.K. gained 0.08 percent, but the SMI of Switzerland finished lower by 0.61 percent.
In Frankfurt, Volkswagen rose 0.55 percent after the carmaker apologized for a test that exposed monkeys to engine fumes to study effects of the exhaust.
Wirecard gained 0.82 percent after its preliminary EBITDA for the fourth quarter grew about 34 percent from last year.
In Paris, Sanfoi dropped 0.79 percent after it agreed to acquire Ablynx for about 3.9 billion euros in a cash deal. Shares of Ablynx surged 18.53 percent in Brussels.
Pharmaceutical firm Ipsen declined 0.48 percent after announcing the appointment of a new Chief Medical Officer.
In London, Provident Financial tumbled 3.08 percent after four former executives raised employment tribunal claims for unfair dismissals against the troubled doorstep lender.
Anglo American rallied 1.23 percent after selling its New Largo thermal coal project in South Africa.
Apple component supplier AMS surged 16.92 percent in Zurich after its revenue for 2017 almost doubled, driven by demand for its sensors from smartphone customers.
Medical technology firm Getinge sank 10.46 percent in Stockholm after its fourth-quarter profit fell short of expectations.
German import price inflation in December was the lowest in over a year, though prices rose during the whole year 2017, erasing the decline seen in the previous year, preliminary data from the statistical office Destatis showed Monday.
The import price index climbed 1.1 percent year-on-year, which was sharply slower than the 2.7 percent increase in November. The latest gain was the smallest since November 2016, when import prices rose just 0.3 percent.
Export prices rose 1 percent year-on-year after a 1.2 percent increase in November.
Personal income in the U.S. rose by slightly more than expected in the month of December, according to a report released by the Commerce Department on Monday, while personal spending increased in line with estimates.
The Commerce Department said personal income climbed by 0.4 percent in December after rising by 0.3 percent in November. Economists had expected another 0.3 percent increase.
The report also said personal spending climbed by 0.4 percent in December following a 0.8 percent increase in November. The spending growth matched expectations.
Copyright RTT News/dpa-AFX