European Stocks Close Lower After Cautious Session

(RTTNews) - European stocks closed weak on Monday as investors largely stayed cautious, looking for fresh data for directional clues. Worries about Artificial Intelligence bubble, and uncertainty about monetary policy moves by major central banks including the Federal Reserve weighed on stocks.

The pan European Stoxx 600 closed down by 0.54%. The U.K.'s FTSE 100 ended lower by 0.24%, Germany's DAX ended 1.2% down, and France's CAC 40 settled lower by 0.63%. Switzerland's SMI ended 0.29% down.

Among other markets in Europe, Belgium, Czech Republic, Finland, Greece, Ireland, Netherlands, Poland, Russia, Spain and Sweden closed weak.

Norway and Turkiye moved higher, while Denmark, Iceland and Portugal ended flat.

In the UK market, Burberry Group ended 6.7% down. JD Sports Fashion closed lower by 4.7%. Endeavour Mining, Informa, Marks & Spencer, Metlen Energy & Metals, Convatec Group, Associated British Foods, Croda International and Next ended down 2 to 3.5%.

WPP soared 11% on reports Dutch communications group Havas has shown high-level interest in a potential deal.

Pershing Square Holdings gained 2.7% and British American Tobacco climbed 2.15%. 3i Group ended nearly 2% up.

Entain, BT Group, SSE, Games Workshop, Compass Group, GSK, Melrose Industries, Coca-Cola Europacific Partners, National Grid and Reckitt Benckiser also closed higher.

In the German market, Siemens Healthineers ended more than 4.5% down. Deutsche Bank, Zalando, Siemens, Commerzbank, Infineon, Deutsche Post, BASF and SAP lost 2 to 3.4%.

Siemens Energy climbed more than 3%. Heidelberg Materials closed higher by nearly 1.5%.

In the French market, STMicroElectronics, Stellantis, Kering, LVMH, Renault, Dassault Systemes, Edenred, Schneider Electric, EssilorLuxottica, L'Oreal, Accor, Hermes International, Capgemini and Saint Gobain ended down by 1 to 3%.

Bouygues, Engie, Thales, TotalEnergies, Safran and Sanofi closed higher.