European stocks saw a muted performance on Monday, following three consecutive sessions of gains.
The market sentiment was cautious, influenced by an attempt on the life of former U.S. President Donald Trump, adding a layer of uncertainty to the already volatile presidential campaign landscape.
On a brighter note, Eurostat released data indicating that industrial production in the euro area declined less than anticipated in May. Seasonally adjusted industrial production dipped by 0.6 percent for the month, outperforming analysts' expectations of a 1.0 percent decline.
The pan-European STOXX 600 index fell by 0.1 percent, settling at 523.40, after a 0.9 percent rise on Friday. Germany’s DAX decreased by 0.2 percent, France's CAC 40 dropped 0.3 percent, and the U.K.'s FTSE 100 was slightly lower.
Luxury goods companies with Chinese exposure faced declines: LVMH fell 1.7 percent, Hermes International decreased by 1 percent, and Kering slid nearly 4 percent. This followed data revealing that China’s economy grew slower than expected in Q2.
Ericsson, the communications technology firm, dropped 2.1 percent after announcing a multi-year cross-licensing patent agreement with Oppo, a handset vendor.
Swatch Group's shares plunged nearly 11 percent, as the Swiss watch and jewelry manufacturer reported a sales decline for the first half of the year, attributed to a significant fall in demand for luxury goods in China.
British online grocer and technology company Ocado tumbled 8.6 percent after being downgraded to 'underperform' by broker Bernstein.
ME Group International, a vending machine operator, saw its shares rise by 1.1 percent, thanks to strong performance in the six months ending April 30, 2024.
Brunner Investment Trust gained 1 percent following a reported increase in half-year profit, while recruitment firm Robert Walters declined 2.3 percent after reporting lower gross profit for the first half of the year and warning of prolonged tough macroeconomic conditions.
BayWa AG, a company specializing in trading logistics and supplementary services, plummeted 32 percent after announcing it is seeking a restructuring opinion due to a challenging financial situation.
Medical software company CompuGroup Medical rose 1.5 percent after releasing its Q2 results.
Nordex Group shares fell 2.7 percent following an update that it secured 3,357 MW of orders in its Projects segment, excluding the service business, during the first half of 2024.
