Investing.com - European stocks were steady on Monday, as sharp losses in property and banking shares in Hong Kong weighed after official data showed that Chinese home prices fell for the first time in 14 months in January.
During European morning trade, the EURO STOXX 50 inched up 0.03%, France’s CAC 40 added 0.07%, while Germany’s DAX 30 dipped 0.05%.
Investors were also monitoring developments in Ukraine, after the country's parliament voted on Saturday to remove President Viktor Yanukovich, giving interim presidential powers to an ally of Yulia Tymoshenko, the former prime minister. The interim government has indicated that it will push more integration with Europe.
In Italy, Matteo Renzi was sworn in as Italy's new prime minister on Saturday. He will lead a coalition government and his new package of reforms are set to be presented to parliament later Monday.
Financial stocks were broadly lower, as French lenders BNP Paribas and Societe Generale dropped 0.63% and 0.36%, while Germany's Deutsche Bank dipped 0.02%.
Among peripheral lenders, Italy's Intesa Sanpaolo and Unicredit slid 0.32% and 0.56% respectively, while Spanish banks Banco Santander and BBVA fell 0.28% and 0.36%.
Volkswagen added to losses, down 6.44%, after the German carmaker unveiled plans to buy out minority shareholders of Swedish trucks division Scania for €6.7 billion and issued a disappointing 2014 outlook.
On the upisde, Lufthansa shares jumped 1.07% after the German airline company cancelled 15 flights on Friday morning due to a security staff strike. German trade union Verdi called on security workers at Frankfurt airport to go on strike on Friday in a bid to push for higher pay.
In London, FTSE 100 fell 0.13%, as U.K. lenders tracked their European counterparts lower.
Shares in Barclays eased 0.06% and Lloyds Banking edged down 0.12%, while the Royal Bank of Scotland slipped 0.25% and HSBC Holdings plummeted 4.04%.
HSBC was reportedly preparing to disclose that it will pay staff bonuses of just under $4 billion when it releases its full-year results this week, as well as a significant impairment charge in connection with its Mexican operations.
Mining stocks were also broadly lower, as Glencore Xstrata dropped 0.81% and Antofogasta tumbled 1.41%, while Rio Tinto lost 1.67%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.08% gain, S&P 500 futures signaled a 0.13% rise, while the Nasdaq 100 futures indicated a 0.14% increase.
Later in the day, the euro zone was to release revised data on consumer price inflation, while the Ifo Institute was to publish a report on German business climate.