Investing.com – European equities traded lower on Monday as investors digested a wash of data on service sector activity and reacted to news of a terrorist attack in London on Sunday, though several stock markets, including Germany were closed for a holiday.
Nearing midday trade in Europe, and with the benchmark Euro Stoxx 50 and Germany’s DAX 30 closed for the holidays, the wider pan European Stoxx 600 lost 0.18%, while France’s CAC 40 traded down 0.52%.
U.K. Prime Minister Theresa May laid out a four-point plan to combat extremism after the militant group known as Islamic State, or ISIS, claimed responsibility for Sunday's attack in central London that killed 7 and wounded 48 people.
On the economic front, the services purchase managers’ indices (PMI) for Spain, France and Italy fell more than expected in May though Germany showed strength with the composite index, which tracks both manufacturing and services, hitting a 73-month high and helping to lend support to the wider reading for the euro zone as a whole.
In the U.K., the British services PMI fell more than expected to its weakest reading since February.
In a light day for company news, Spanish bank Banco Popular (MC:POP) tumbled around 11%, leading decliners on the Stoxx 600, after a government spokesperson said last Friday that the solution for a troubled financial institution was either a capital raise or a sale.
Shares in Juventus (MI:JUVE) sank 9% after the Italian soccer team lost the European Champions League title to Spain’s Real Madrid over the weekend.
In a big move to the upside, shares in Sponda (HE:SDA1V) soared more than 20% after U.S. private equity group Blackstone (NYSE:BX) said it would acquire the Finnish real estate investment firm for about €1.8 billion ($2.0 billion).
Meanwhile, oil prices traded higher as market players eyed developments after Egypt, Saudi Arabia, the United Arab Emirates and Bahrain cut diplomatic ties with Qatar, accusing Doha of supporting terrorism in the region and destabilizing the Gulf through its support for Islamist groups and its relations with Iran.
Energy stocks traded lower, as French oil and gas major Total SA (PA:TOTF) dropped 0.17%, Italy’s ENI (MI:ENI) fell 0.21%, while Norwegian rival Statoil (OL:STL) lost 0.54%.
Financial stocks also registered losses, as French lenders BNP Paribas (PA:BNPP) gave up 0.49% and Societe Generale (PA:SOGN) fell 0.98%, though Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) were not trading due to the holiday.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) lost 1.16% and Unicredit (MI:CRDI) traded down 0.97%, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) fell 0.65% and 0.98%, respectively.
In London, the commodity-heavy FTSE 100 fell 0.27% as investors digested the implications of the latest terrorist attack and the worse-than-expected services PMI data.
Shares in Glencore (LON:GLEN) fell 1.40%, Anglo American (LON:AAL) lost 1.12%, while BHP Billiton (LON:BLT) and Rio Tinto (LON:RIO) traded down 1.48% and 1.28%, respectively.
Energy stocks recorded gains, as BP (LON:BP) rose 0.41% and rival Royal Dutch Shell (LON:RDSa) inched up 0.04%.
Financial stocks were mixed, with shares in HSBC Holdings (LON:HSBA) up 0.12%, Royal Bank of Scotland (LON:RBS) gaining 0.66%, while Lloyds Banking (LON:LLOY) and Barclays (LON:BARC) lost 0.33% and 0.05%, respectively.
In the U.S., futures pointed to a flat to lower open. The Dow Jones Industrial Average futures slipped 0.03%, S&P 500 futures edged down 0.06%, while the Nasdaq 100 futures dropped 0.09%.