PRAG (dpa-AFX) - European markets turned in a mixed performance on Monday, with investors largely refraining from making significant moves as they awaited further developments on Brexit and U.S.-China trade issues.
After negotiations between the two largest economies in the world ended without any breakthrough, markets now await the upcoming visit of U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin to China during the middle of this month for the next round of talks.
Meanwhile, on the Brexit front, discussions on an alternate arrangement to the Irish backstop have begun today between British MPs and Brexit Secretary Steve Barclay. Prime Minister Theresa May is scheduled to travel to Northern Ireland on Tuesday to reassure businsses that the government is committed to maintaining an open border after Brexit.
The pan European Stoxx 600 ended up 0.06%. Among major markets in the region, France and Germany ended lower, with their benchmarks CAC 40 and DAX declining by 0.38% and 0.04%, respectively. The U.K.'s FTSE ended up 0.2% and Switzerland's SMI ended 0.17% up.
Among other markets in Europe, Czech Republic, Finland, Greece, Italy, Netherlands, Norway and Sweden edged higher, while Denmark, Poland, Portugal, Spain and Turkey ended weak.
Bank stocks were mostly lower today, with investors reacting to earnings reports. Shares of Julius Baer declined more than 4%, as results fell short of expectations.
In Germany, Wirecard soared nearly 17% on news that the company-appointed law firm made no conclusive findings of criminal wrongdoing by any of its employees.
Merck gained about 2% and Beiersdorf gained 1.2%, while Thyssenkrupp, Daimler, Volkswagen, BMW, Continental and Adidas ended lower by 1 to 1.6%.
In the French market, Societe Generale shed about 2.8%. Valeo, Renault, Credit Agricole, BNP Paribas, Veolia Environment, Peugeot, Saint Gobain, ArcelorMittal and Bouygues ended lower by 1 to 2.7%. Dassault Systems moved up 2.1%.
In the U.K. market, Dixons Carphone, Imperial Brands, WPP and Glencore were among the prominent losers. Intu Properties, Sage, Tui, Royal Dutch Shell, Royal Mail, 3I Group, Intertek, DCC and Microfocus gained 1.5 to 3%.
In economic news, Eurozone industrial producer prices decreased for a second straight month in January and at the fastest pace in three years, preliminary figures from Eurostat showed on Monday.
Producer prices decreased 0.8% from November, when they fell 0.3%. Economists had expected a 0.5% drop.
On a year-on-year basis, producer prices rose 3% in December after a 4% increase in November. Economists had expected a 3.1% rise. For the full year 2018, average annual producer price inflation was 3.2%.
Sentix research group said its investor sentiment index for the euro zone dropped to -3.7 in February from -1.5 in the previous month. The latest score marked the lowest level in more than four years.
U.K. construction activity hit a 10-month low in January amid Brexit uncertainty, the latest survey report from Markit Economics showed.
In Italy, consumer price inflation eased to its lowest level in nine months in January, data from Istat showed. The consumer price index climbed 0.9% year-over-year in January, slower than December's 1.1% increase.
Meanwhile, Turkey's consumer price inflation accelerated in January, data from the Turkish Statistical Institute showed. The consumer price index rose 20.35% year-on-year in January after a 20.30 percent increase in December.
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