European Shares Little Changed In Cautious Trade
(RTTNews) - European shares were largely steady on Monday after a week of high volatility on concerns about an escalating global trade war and its potential impact on global economic growth.
The pan European STOXX 600 was little changed at 552.96 despite concerns about a potential U.S. recession in 2025.
The German DAX slipped 0.1 percent as the country moved nearer to the formation of a coalition government.
Data showed earlier today that German industrial output rose in January but exports plunged, showing the challenges facing the incoming government.
France's CAC 40 was marginally higher while the U.K.'s FTSE 100 dropped half a percent.
Defense stocks continued to rise, with Germany's Rheinmetall rallying nearly 2 percent after EU leaders backed new defense spending plans.
Banks traded lower, with Commerzbank, BNP Paribas, Credit Agricole, Lloyds Banking Group and Deutsche Bank falling 1-3 percent.
British online food delivery platform Deliveroo rose 1.1 percent after saying it would end operations in Hong Kong next month.
Watches of Switzerland Group shares jumped 3.4 percent after the company announced a share buyback program.
Assura shares surged 14 percent as the consortium led by KKR & Co increased its takeover offer for the U.K. health-care landlord.
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