Market Update
European markets were lower Monday, in line with a weak trend in global markets even as the Ukraine crisis flared once again over the weekend.
The FTSE was down 0.6%. The CAC 40 Paris gave up 0.7% while the German DAX fell 0.9%.
Ukraine gave pro-Russian forces a Monday morning deadline to disarm or face the consequences of an anti-terrorist operation. The United Nations kicked off an emergency meeting to discuss the crisis.
Earlier last week, European Central Bank President Mario Draghi said a further appreciation in the euro would give reason for additional monetary easing.
Later today, the euro zone is to release data on industrial production.
Stocks on the Move
Glencore Xstrata PLC was up 0.9%. The company sold its stake in the Las Bambas copper mine in Peru to Chinese consortium in a $6 billion all-cash deal.
Anglo American fell 1.2% but Rio Tinto was up half a percent.
Banks were all lower.
Among the other losers, easyJet PLC dropped 3.3%.
Symrise AG fell 3.2% after it offered to buy France’s Kerisper S.A.S., the holding entity of food ingredient maker Diana Group.
Over in Paris, Societe Generale was down about 2%. The French lender announced Friday it had increased its stake in Russia’s Rosbank to 99.4% citing strong growth potential for the country’s banking sector.
Elsewhere in Europe, Kuehne & Nagel International AG fell 3.5% after reportingfirst-quarter sales that missed projections.