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European Equities Close Mixed in Monday Trading; UK Labor Market Continues to Decline

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Last updated: 12/09/2024 12:12:07

12:12 PM EST, 12/09/2024 (MT Newswires) -- European stock markets closed mixed in Monday trading as the Stoxx Europe was up 0.14%, Germany's DAX was off 0.19%, the FTSE in London gained 0.52%, France's CAC rose 0.72%, and the Swiss Market Index declined 0.16%.

In Great Britain, UK labor market conditions continued to worsen in November as permanent placements continued to decline, and at their sharpest rate since August 2023, according to the KPMG and REC, UK Report on Jobs survey, compiled by S&P Global. The survey indicated reduced demand for staff, and said companies are reassessing staffing needs and pausing recruitment activity due to the potential impact of the government's annual budget on business performance.

In Switzerland, the monthly consumer sentiment index compiled by the State Secretariat for Economic Affairs remained unchanged at -37 points in November from October. However, the score remained above the -48 the index registered a year earlier.

In Ireland, the headline seasonally adjusted BNP Paribas Real Estate Ireland Construction Total Activity Index fell to 47.5 in November from 49.4 in October. Construction activity declined for the third straight month.

And in corporate news, Astrazeneca (AZN) said Sunday that results of a phase 3 trial of Calquence in combination with venetoclax demonstrated "statistically significant" improvement in progression-free survival in previously untreated adult patients with chronic lymphocytic leukemia, compared with standard-of-care chemoimmunotherapy.

Stellantis (STLA) plans to rejoin the European auto lobby European Automobile Manufacturers Association it left in early 2023, Reuters reported Monday. Stellantis did not immediately respond to MT Newswires' request for comment. Shares of the European automaker closed nearly 2% higher in Paris trading.

British oil and gas giant BP and Japanese power generation company Jera said Monday that they are forming Jera Nex bp, a London-based joint venture to integrate their offshore wind businesses. The companies said they will each own a 50% stake in the venture and that they have agreed to invest up to $5.8 billion before the end of 2030.

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