European Markets End Slightly Positive After Lackluster Session

(RTTNews) - European markets closed on a slightly positive note on Monday, amid continued optimism that upcoming round of talks between the U.S. and Chinese officials will take the two nations closer toward achieving a trade deal in the foreseeable future.

With markets in the U.S. closed today for Washington Birthday, activity in many of the markets in Europe was somewhat subdued.

The pan European Stoxx 600 ended up 0.24%. Among the major markets in Europe, the French market ended higher, with its benchmark CAC 40 gaining 0.3%. The U.K.'s FTSE 100 ended lower by about 0.24% and Germany's DAX ended 0.01% down. Switzerland's SMI ended 0.27% up.

Among other markets in Europe, Austria, Netherlands, Norway, Portugal and Sweden ended flat. Belgium, Czech Republic, Denmark, Italy and Spain ended modestly higher. Greece rose sharply, while Poland, Russia and closed notably lower.

Wirecard shares rallied sharply and gained nearly 15%, after financial regulator BaFi banned short selling in the stock amid reports that German authorities are probing into a possible violation of securities trading rules.

Henkel gained about 1.6%. HeidelbergCement, Deutsche Telekom, Beiersdorf and Deutsche Bank ended modestly higher.

Deutsche Post, Thyssenkrupp, Lufthansa, Volkswagen, Siemens, Infineon, BMW and RWE closed with sharp to moderate losses.

In the French market, Societe Generale, Credit Agricole and Publicis Groupe gained about 2.5%. Valeo, L'Oreal, Orange, Technip and Sodexo ended higher by 1 to 1.6%.

Renault, Carrefour, ArcelorMittal, STMicroElectronics and Pernod Ricard ended weak.

Old Mutual, Hikma Pharma, IAG, Relx, Standard Chartered, British American Tobacco, Paddy Power, AstraZeneca, Carnival and DCC shed 1 to 2.7%.

Reckitt Benckiser jumped more than 4.5% on strong sales in the fourth quarter. Micro Focus, Next, Associated British Foods, TUI, Kingfisher, Mediclinic International, RBL, Merlin Entertainment, Severn Trent, United Utilities, Intu Properties and Mark & Spencer gained 1.5 to 4%.

In economic news from Europe, survey data from Rightmove showed UK housing affordability improved at the fastest pace in eight years in February, but annual house price growth remained weak.

UK's annual average wage growth of 3.4% outstripped asking prices at the fastest rate since 2011, the survey found. Average asking prices rose 0.7% month-on-month in February, after a 0.40% rise in January.

Compared to the same month a year ago, house prices were 0.2% in February, which was the weakest pace since 2009.