BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets got off to a positive start Monday and spent much of the day in the green. However, the markets began to fall after the opening bell on Wall Street and ended the session in the red.
Reports of easing tensions between the U.S. and China sparked the early gains at the start of the new trading week. U.S. Treasury Secretary Steven Mnuchin said in an interview on Fox News on Sunday that he is 'cautiously hopeful' a trade agreement can be reached. Mnuchin said that the U.S. would proceed with plans to impose tariffs on Chinese imports but stressed that negotiations are ongoing.
The pan-European Stoxx Europe 600 index weakened by 0.72 percent. The Euro Stoxx 50 index of eurozone bluechip stocks decreased 0.60 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.62 percent.
The DAX of Germany dropped 0.83 percent and the CAC 40 of France fell 0.57 percent. The FTSE 100 of the U.K. declined 0.48 percent and the SMI of Switzerland finished lower by 0.70 percent.
In Paris, Bouygues declined 1.03 percent. The company said that its units Bouygues Construction and Colas Rail have agreed to acquire Alpiq Engineering Services, a Swiss player in the energy, industrial services and rail infrastructure sectors.
In London, mining company Fresnillo jumped 4.55 percent after a ratings upgrade from Goldman Sachs.
JD Sports sank 4.97 percent after it agreed to buy U.S. sportswear retailer Finish Line.
Industrial equipment rental company Speedy Hire soared 6.83 percent. The company expects full-year adjusted pre-tax profit to be ahead of expectations.
Smurfit Kappa shares tumbled 4.12 percent after the packaging giant unanimously rejected a revised offer from U.S. suitor International Paper.
Roche fell 0.74 percent in Zurich after its lung-cancer treatment saw positive results.
Banco Santander Group gained 0.83 percent in Madrid. The banking group announced that its subsidiaries Banco Popular Español, S.A. and Banco Santander Totta, S.A. have reached an agreement with certain entities managed by Värde Partners, Inc. and WiZink Bank, S.A.
UK mortgage approvals declined in February, figures from UK Finance showed Monday. The number of loans approved for house purchases fell more-than-expected to 38,120 from 40,031 in January. The expected level was 39,000.
Copyright RTT News/dpa-AFX