European Markets Mixed, Erste Group Bank Up 6%
European stocks opened mixed on Monday, with U.K. markets closed for a bank holiday, as investors awaited fresh economic data and corporate earnings reports due later in the week.
Germany's DAX was last up 0.22%, while Italy's FTSE MIB traded around the flatline and France's CAC 40 fell 0.43%.
Santander announced Monday that Austria's Erste Group Bank has acquired about a 49% stake in Poland-based Santander Bank Polska and 50% of Polish asset manager Santander TFI. Erste Group shares were last up about 6.2%.
Data released Monday showed that Swiss inflation fell to 0% in April from the same month a year earlier, lower than expected. Consumer price data from Turkey is also expected.
While earnings are off to a quiet start, several major companies are due to report in the coming days, including Novo Nordisk, BMW, Maersk and Commerzbank.
Central banks across Europe will also be in focus this week, with Sweden’s Riskbank, Norway’s Norges Bank and the Bank of England among those announcing their latest interest rate decisions.
Many Asian markets were also closed for holidays on Monday. Australian shares fell after Prime Minister Anthony Albanese claimed victory as the country’s first prime minister to win a second consecutive term in 21 years.
U.S. stock futures were last down after a strong week that saw the S&P 500 post its longest positive streak in two decades. Trade tensions and a potential deal with the U.S.’s major partners continue to be top of mind for investors, as does the Federal Reserve’s upcoming interest rate decision. The central bank is widely expected to keep rates steady.
Source: CNBC
