European Shares Struggle For Direction Amid Data Deluge

(RTTNews) - European stocks struggled for direction on Monday as investors digested a raft of mixed economic data.

Data showed earlier in the day that German trade surplus widened to €18.4 billion from €14.9 billion as exports unexpectedly rose 1.2 percent and imports fell 1.7 percent in April.

Eurozone business growth slowed in May. HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global, dropped to a three-month low 52.8 in May from April's 54.1.

Eurozone PPI came in at -3.2 percent month-on-month in April versus -2.7 percent expected.

The Eurozone Sentix Investor Confidence index came in a -17.1 in June, dropping from -13.1 booked in May and -9.2 expected.

There was little change to the initial estimates of U.K. service sector activity in May.

The pan European STOXX 600 was marginally higher at 462.45 after rallying 1.5 percent on Friday.

The German DAX edged up marginally and the U.K.'s FTSE 100 was up around half a percent, while France's CAC 40 slipped 0.1 percent.

Swiss investment bank UBS rose 1.4 percent after saying it would complete its takeover of Credit Suisse by "as early as June 12".

SBB shares jumped 6 percent. The company's CEO said the Swedish property group won't sell off its assets at a discount.

Commodity stocks traded higher after a private survey showed stronger-than-expected growth in China's services sector in May on improved demand.

Miners Anglo American and Glencore rose around half a percent each in London while oil & gas firm BP Plc rallied 1.2 percent and Shell added 1 percent.

Sirius Real Estate rallied 3 percent. The company lifted dividend despite reporting a slump in annual profit.

Hunting rose over 2 percent after it entered into a 10-year Strategic Partnership with Zhejiang Jiuli Hi-Tech Metals Co.

Polymetal tumbled 3.6 percent after saying it was considering divestment of its Russian business.

Further, the chief executive officer and chief financial officer have resigned from their positions at the Russian subsidiary.