European Stocks Close Higher

(RTTNews) - European stocks closed higher on Monday, although the mood remained somewhat cautious with investors tracking news about coronavirus cases and the developments on Covid-19 vaccination front.

Some positive corporate news and encouraging economic data out of China too contributed to the uptick.

However, concerns about Chinese cities entering lockdown due to coronavirus outbreaks offset signs that the world's second-largest economy has picked up speed in the fourth quarter.

Restrictions on movements weighed on travel-related stocks such as those in the airline sector, and falling crude oil prices dragged down energy shares.

The pan European Stoxx 600 gained 0.2%. Germany's DAX climbed 0.44%, France's CAC 40 edged up 0.1% and the U.K.'s FTSE 100 ended 0.22% down, while Switzerland's SMI gained 0.11%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkey ended with sharp to moderate gains.

Czech Republic edged up marginally, while Greece and Netherlands drifted lower.

In the UK market, Ocado Group gained 2.6%, Barclays Group, Natwest Group, Burberry Group, JD Sports Fashion, Mondi, Evraz, Next and Land Securities moved up 1 to 2%.

On the other hand, Ferguson, Hikma Pharmaceuticals, Pearson, M&G, Flutter Entertainment, Rolls-Royce Holdings, BAE Systems and BT Group lost 1.5 to 2%.

In France, ArcelorMittal, Bouygues, Danone, Publicis Groupe, Renault, WorldLine, Teleperformance, LVMH, Credit Agricole and Teleperformancec gained 1 to 2.5%.

FCA and PSA Group, the owners of Fiat Chrysler and Peugeot, respectively, agreed on a $52 billion merger of the two companies over the weekend, which has resulted in the creation Stellanis, the world's fourth-largest car manufacturer by volume. Stellanis shares gained nearly 8%.

Among the losers, Carrefour plunged nearly 7%, Peugeot shed more than 4% and Unibail Rodamco ended lower by about 3.2%. Veolia, Airbus Group and Dassault Systemes also ended notably lower.

In the German market, Thyssenkrupp spurted 7%. Adidas gained nearly 5%, Infineon Technologies ended higher by about 2.8% and Covestro gained 2.3%. Deutsche Post and Deutsche Wohnen also ended with strong gains, while Lufthansa and Fresenius Medical Care declined sharply.

In economic news, UK house prices declined at a faster pace in January before the stamp duty holiday ends, according to the property website Rightmove.

As new sellers still hope to tempt buyers and squeeze in a sale before the stamp duty holiday ends, house prices dropped 0.9% on month in January, after easing 0.6% in December. On a yearly basis, growth in house prices halved to 3.3% from 6.6% in December.