12:18 PM EST, 02/12/2024 (MT Newswires) -- European stock markets closed higher Monday as the Stoxx Europe 600 rose 0.53%, the Swiss Market Index gained 0.79%, France's CAC increased 0.52%, the FTSE in London was up 0.03%, and Germany's DAX closed 0.61% higher.

In Germany, commercial property prices dropped 4.9% in Q4 from Q3, and 12.1% from a year earlier, according to the VDP banking association, which said both declines were the largest ever. Overall property prices, including commercial and residential real estate, were down 2.2% from Q3 and 7.2% from a year earlier.

The headline HCOB Germany Manufacturing PMI Export Conditions Index, published by Hamburg Commercial Bank, rose to 49.4 in January from 48.6 in December That marked the highest in seven months and indicated only a slight deterioration in export conditions.

In the UK, the NatWest Regional PMI survey indicated a positive start to the year with 10 of the 12 monitored UK regions and nations seeing an increase in business activity in January. London registered the strongest growth.

In Ireland, the headline seasonally adjusted BNP Paribas Real Estate Ireland Construction Total Activity Index rose to 45.9 in January from 45.1 in December, still indicating contraction at below 50 for the seventh straight month.

In corporate news, Novo Nordisk's (NVO) controlling shareholder Novo Holdings plans to use dividend payments from diabetes drug Ozempic and weight loss treatment Wegovy to invest up to $7 billion a year by 2030, the Financial Times reported on Monday, citing Chief Executive Officer Kasim Kutay.

A rally in mining stocks was led by Fresnillo, which rose 3.5% on the FTSE in London, followed by Anglo American and Endeavour Mining, which gained 2.9% each, and Glencore and Antofagasta, which closed 2.4% and 2.3% higher respectively.

Real estate stocks also climbed. Unibail-Rodamco rose 2.6% on the CAC in Paris, while Vonovia gained 2% on the DAX in Frankfurt, and Land Securities and Rightmove were up 2.1% and 1.3% respectively in London.

Luxury goods stocks rose. Burberry Group closed more than 5% higher in London, while L'Oreal and Louis Vuitton gained 2.4% and 1.8% respectively in Paris.

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