European equities closed mixed on Monday, after a volatile day of trading.
The pan-European Euro Stoxx 600 Index (^STOXX) closed roughly flat, with energy stocks outperforming on the back of gaining oil prices.
Meanwhile, Julius Baer (Swiss Exchange: BAER-CH) shares closed more than 8 percent higher after the Swiss private bank posted a profit rise in its full-year results and said it was preparing for cost-cutting, after the surprise policy move by the Swiss National Bank in January.
Read More Julius Baer says launches $ 108M savings program In other stocks news, Ryanair (Irish Stock Exchange: RY4B-IE) shares tumbled to close more than 6 percent lower after the company warned that profit growth could be modest in 2015. European airlines performed poorly in general on Monday, with Air France-KLM (Euronext Paris: AF-FR), Lufthansa (XETRA:LHA-DE) and Easyjet (London Stock Exchange: EZJ-GB) all closed down by at least 3 percent. CRH shares climbed up to 4 percent after the building supplies manufacturer agreed to buy some assets from Lafarge (Euronext Paris: LG-FR) and Holcim for $ 7.3 billion .
Greek stocks rallied up to 5 percent on Monday, as its new left-wing government began what one market analyst called a “charm offensive” on to persuade its euro zone partners to create a new debt agreement with the country.
The government has already started to reverse austerity measures unpopular in Greece that were a condition of its current bailout agreement-a move that could make make negotiations harder.
“Germany remains, for its part firmly opposed to any form of debt reduction, as do the Finns, and it is these two stances that are becoming increasingly difficult to reconcile given that Greece’s debt is to all intents and purposes unsustainable,” said Michael Hewson, chief markets analyst at CMC Markets, in a note on Monday.
Read More Can Europe resist Greece’s charm offensive? The German DAX (^GDAXI) index was another strong performer on Monday, closing unofficially higher by 1.0 percent. The Spanish IBEX (Mercado Continuo: .IBEX) performed worst out of the major country bourses, ending unofficially lower by 1.4 percent. Meanwhile, final January manufacturing PMI data for the euro zone came out on Monday. It showed factor activity grew slightly last month and the figure of 51.0 was in line with a previous estimate. U.S. stocks opened higher on Monday , encouraged by rising oil prices, before paring some gains.
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