Modupe Gbadeyanka
By Investors Hub
European stocks turned mixed on Monday as a slew of weak economic reports offset investor optimism over higher commodity prices.
While the UK’s FTSE 100 Index is up by 0.2 percent, the French CAC 40 Index is down by 0.1 percent and the German DAX Index is down by 0.5 percent.
German industrial output unexpectedly fell 1.1 percent month-on-month in June, in contrast to a 1.2 percent rise seen in May, official data showed. Production was forecast to grow 0.1 percent.
Separately, survey results from think tank Sentix showed that investor confidence in the eurozone declined for the second straight month in August to the lowest level in three months. The headline index dropped to 27.7 from 28.3 in July.
UK consumer spending and house price inflation figures also disappointed investors.
Dutch postal firm PostNL has plunged after saying that regulatory changes would impact its FY outlook. Paddy Power Betfair shares have also plummeted, as the British gambling firm announced the departure of CEO Breon Corcoran.
Fresenius Medical Care shares have fallen after the German company signed an agreement to acquire NxStage Medical, Inc., a U.S.-based medical technology and services company.
On the positive side, Banco BPM shares have rallied after the Italian lender agreed to sell its asset management business Aletti Gestielle SGR to domestic rival Anima Holding.
Shares of 21st Century Technology have soared after the specialist provider of tailored solutions to the transport community announced a 3-year bus systems and services contract with Abellio.
Renault has also advanced after the French carmaker signed a landmark joint venture deal to build more than 150,000 cars a year in Iran.
