On Monday, European stocks experienced a mixed performance as investors proceeded with caution, influenced by the release of new economic data from the region and the upcoming Christmas holidays. Market sentiment was also affected by concerns over tariff threats from former President Trump and political uncertainties in Germany and France.
In Germany, November marked the first increase in import prices in three months, with a year-on-year rise of 0.6%, reversing October’s drop of 0.8%. A notable reduction in the annual decline of energy prices from 14.1% to 8.2% was a significant factor. On a monthly basis, import prices rose by 0.9%, compared to a 0.6% increase in October.
In the UK, the economy stagnated in the third quarter as the service sector failed to grow, and a moderate increase in construction was negated by a decline in industrial production, according to the Office for National Statistics. The real gross domestic product remained unchanged in the third quarter, a revision from the initially estimated 0.1% growth, following a 0.4% expansion in the previous quarter.
The pan-European Stoxx 600 saw a slight increase of 0.14%. The U.K.'s FTSE 100 rose by 0.22%, whereas Germany's DAX and France's CAC 40 fell by 0.18% and 0.03% respectively. Switzerland's SMI, on the other hand, surged by 0.91%.
Elsewhere in Europe, markets in Austria, Belgium, Denmark, Iceland, Netherlands, Spain, Sweden, and Turkiye closed on a weaker note. Meanwhile, Greece, Ireland, Norway, Portugal, and Russia recorded gains, with Finland and Poland ending flat.
In the UK market, Frasers Group fell 3.35%, Spirax Group and Entain declined by 2.89% and 2.5%, respectively. Other companies, including Schrodders, Diploma, IAG, Experian, Rentokil Initial, Ashtead Group, and Weir Group, posted losses between 1% and 1.5%.
On the upside, Airtel Africa rose by 3.13%. Centrica, Hikma Pharmaceuticals, Pershing Square Holdings, AstraZeneca, Land Securities, Croda International, Beazley, National Grid, Aviva, and GSK saw gains ranging from 1% to 2%.
In Germany, Volkswagen declined nearly 2.5%, while Porsche, MTU Aero Engines, Mercedes-Benz, Daimler Truck Holding, Puma, BMW, Deutsche Boerse, Adidas, and Zalando dropped by 0.8% to 1.4%. Conversely, Covestro strengthened by approximately 1.75%, and Rheinmetall and others like Siemens Energy, Fresenius, RWE, and HeidelbergCement recorded gains between 0.6% and 1.3%.
Meanwhile, in France, Teleperformance dipped nearly 2%, with Renault, Air Liquide, Airbus Group, Legrand, Societe Generale, Bouygues, and Pernod Ricard recording losses ranging from 0.5% to 1%. Stocks such as Edenred, Eurofins Scientific, STMicroElectronics, Unibail-Rodamco, Sanofi, Orange, L'Oreal, and Engie saw notable gains.
Additionally, shares of Danish multinational pharmaceutical company Novo Nordisk leapt 5.7% following the release of underwhelming trial results for its latest weight-loss medication, CagriSema.
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