Investing.com - European stocks were mostly lower on Monday, as markets paused after last week's global rally fuelled by the European Central Bank's decision to cut interest rates and launch fresh stimulus measures.
During European morning trade, the DJ Euro Stoxx 50 slipped 0.11%, France’s CAC 40 fell 0.12%, while Germany’s DAX added 0.08%.
European equities strengthened broadly last week after the ECB cut rates to record lows across the euro zone and announced an asset-backed securities and covered bond purchasing program in an attempt to shore up slowing growth and inflation in the region.
Earlier Monday, official data showed that Germany's trade surplus widened to €22.2 billion in July, from €16.4 billion in June, whose figure was upwardly revised from a previously estimated surplus of €16.2 billion. Analysts had expected the trade surplus to widen to €16.8 billion in July.
Financial stocks were broadly lower, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) fell 0.26% and 0.25%, while Germany's Deutsche Bank (XETRA:DBKGn) declined 0.55%.
Among peripheral lenders, Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) fell 0.08% and 0.35% respectively. Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) overperformed however, adding 0.16% and 0.41%.
Elsewhere, Swedish multinational household and professional appliances manufacturer Electrolux (ST:ELUXa) surged 11.56% after agreeing to buy General Electric (NYSE:GE)'s home-appliances unit for $3.3 billion in cash.
In London, FTSE 100 slid 0.38%, after a weekend opinion poll indicated that support for Scottish independence is continuing to gain momentum.
U.K. lenders tracked their European counterparts lower, as HSBC Holdings (LONDON:HSBA) edged down 0.13% and Barclays (LONDON:BARC) retreated 0.91%, while the Royal Bank of Scotland (LONDON:RBS) and Lloyds Banking (LONDON:LLOY) plunged 2.59% and 2.80% respectively.
Ryanair (LONDON:RYA) added to gains, up 0.40% amid reports the discount carrier is set to place an $11 billion order for Boeing (NYSE:BA)'s 737 Max jets.
Meanwhile, mining stocks were mixed. Shares in Bhp Billiton (LONDON:BLT) edged up 0.08% and Randgold Resources (LONDON:RRS) jumped 1.08%, while Glencore Xstrata (LONDON:GLEN) slipped 0.16% and Rio Tinto (LONDON:RIO) shed 0.37%.
In the U.S., equity markets pointed to a lower open. The Dow 30 futures pointed to a 0.13% fall, S&P 500 futures signaled a 0.13% slip, while the NASDAQ 100 futures indicated a 0.09% loss.