Dipo Olowookere
By Investors Hub
European stocks are roughly flat on Monday as earnings results from UBS disappointed investors and a rise in U.S. Treasury yields tempered optimism over easing geopolitical risks.
While the U.K.?s FTSE 100 Index just below the unchanged line, the French CAC 40 Index and the German DAX Index are both marginally higher.
The pound hit a two-week low against the dollar following comments from the Bank of England Governor Mark Carney that market expectations over the possibility of a rate hike in May were overblown.
Swiss banking giant UBS has tumbled, as the company?s first quarter earnings topped forecasts, but investors were disappointed by the performance of its global private wealth management division.
Advertising and public relations company WPP has also moved lower after Ford (F) said it has put its creative account up for review.
Air France KLM shares have fallen in Paris. Air France said that it expects to operate 75 percent of its flights on Monday, the first day of a 48-hour strike over a wage dispute involving pilots, cabin crew and ground staff in France.
Germany’s Fresenius Medical Care has also tumbled after signing a definitive agreement to divest its controlling interest in Sound Inpatient Physicians Holdings, LLC.
On the other hand, Temenos Group shares have rallied after the Swiss banking software supplier announced that it would not make a revised offer for Fidessa group.
Dutch consumer electronics giant Philips Electronics NV has also jumped after its first quarter results topped expectations.
Capita has soared as the British outsourcing firm announced a cash call to raise 701 million pounds after reporting a wider loss for last year.
On the economic front, the Eurozone private sector expanded at a steady pace in April, flash survey results from IHS Markit showed. The composite output index remained unchanged at 55.2 in March. The index was forecast to drop to 55.0.
