Investing.com - European markets opened mostly lower on Monday, as the stronger euro following positive news from Germany continued to weigh and as investors continued to focus on corporate earnings results.
The EURO STOXX 50 inched 0.01% higher, France’s CAC 40 slipped 0.15%, while Germany’s DAX 30 was down 0.11% by 03:30 a.m. ET (07:30 GMT).
The euro rallied following reports on Friday that German coalition party leaders reached a breakthrough in talks to form a new government.
The single currency also remained broadly supported after Thursday’s minutes of the European Central Bank’s December meeting said officials could consider a gradual shift in policy guidance from early 2018.
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) declined 0.48% and 0.70%, while Germany's Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) slid 0.34% and 0.56%.
Among peripheral lenders, Italy's Unicredit (MI:CRDI) and Intesa Sanpaolo (MI:ISP) dropped 0.57% and 0.53% respectively, while Spanish banks BBVA (MC:BBVA) and Banco Santander (MC:SAN) eased 0.05% and 0.32%.
Elsewhere, Renault (PA:RENA) slumped 0.32% even as the French carmaker reported a rise in its global sales for 2017 and said it expected more growth this year.
On the upside, Prosiebensat 1 Media AG (DE:PSMGn) saw shares surge 2.29%. The German media company made headlines last week when it announced that it will be taking over e-commerce marketer Kairion from Cocomore, further increasing its activities in the ad-tech sector.
In London, FTSE 100 dipped 0.04%, weighed by Standard Chartered (LON:STAN), whose shares tumbled 1.45%.
Financial stocks added to losses, as Lloyds Banking (LON:LLOY) eased 0.06% and the Royal Bank of Scotland (LON:RBS) slid 0.66%, while HSBC Holdings (LON:HSBA) retreated 0.85%. Barclays (LON:BARC) overperformed, as shares climbed 0.91%.
GKN PLC (LON:GKN) was one of the top performers on the index, as shares rallied 1.92% as Melrose Industries was set on Monday to begin its unofficial battle for the company. Melrose's proposal includes a plan to sell Gkn 's £1 billion powder metallurgy business in the medium term.
In the mining sector, stocks were mostly higher. Shares in Anglo American (LON:AAL) rose 0.24% and Glencore (LON:GLEN) gained 0.68%, while Antofagasta (LON:ANTO) jumped 1.16%.
In the U.S., equity markets were to remain closed on Monday for Martin Luther King day.