European Markets Close Flat on First Trading Day in September; Rightmove Jumps 27%
European stocks closed flat on the first trading day in September as investors considered the outlook for markets.
The pan-European Stoxx 600 closed 0.04% lower, with regional bourses and sectors diverging. Retail stocks ended 0.77% lower, while telecoms added 0.78%.
Shares in real estate listings company Rightmove closed up 27% higher after its Australian rival REA Group said it was considering making an offer for for the U.K.-based platform.
On the data front, a series of final readings of manufacturing PMIs from across Europe were released Monday. This included euro zone manufacturing activity, which remained firmly in contractive territory, coming in at 45.8 in August as it was weighed down by Germany and France, the report from the Hamburg Commercial Bank and S&P Global showed.
Elsewhere, the U.K. manufacturing PMI increased to a 26-month high of 52.5 in August, which is in expansion territory, according to the report by S&P Global.
Source : CNBC