BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European markets bounced back and forth between small gains and losses Monday, before turning negative. The positive opening on Wall Street helped the European markets to recover some ground in the afternoon, but they ended the day with mixed results.
With little happening on the economic front, investors remained focused on the political situation in Italy. Italy is now headed towards a coalition government between the 'Five Star Movement' and the (formerly 'Northern') 'League' after two months of paralysis since the March 4 inconclusive general election.
The pan-European Stoxx Europe 600 index advanced 0.11 percent. The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.01 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, lost 0.04 percent.
The DAX of Germany dropped 0.18 percent and the CAC of France fell 0.02 percent. The FTSE 100 of the U.K. declined 0.18 percent, but the SMI of Switzerland finished higher by 0.08 percent.
In Paris, Airbus dropped 2.38 percent. The aerospace and defense major said that its Chief Financial Officer, Harald Wilhelm, 52, has decided to leave the Company in 2019 in agreement with the Board of Directors.
In London, platinum miner Lonmin jumped 7.44 percent after narrowing its first-half loss.
Centrica rose 1.36 percent after it said it remains on track to achieve the 2018 Group targets set out in its 2017 Preliminary Results announcement.
IWG soared 22.82 percent. The world's biggest serviced office provider said that it is mulling takeover offers from three rival suitors.
Troubled lender Monte dei Paschi climbed 2.50 percent in Milan after posting solid earnings for the first quarter, helped by lower-than-expected NPA provisions.
ABN Amro tumbled 6 percent in Amsterdam after reporting a 3 percent drop in Q1 profit due to loan impairments.
EDP shares surged 9.32 percent in Lisbon after China's state-owned utility China Three Gorges launched an all-cash tender offer to take control of the Portuguese power firm.
Copyright RTT News/dpa-AFX