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European Stocks Close in Red Ahead of Earnings Season Kickoff

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Last updated: 04/12/2021 12:18:38

12:18 PM EDT, 04/12/2021 (MT Newswires) -- European stocks closed lower on Monday even as the UK reopened shops, hairdressers, gyms, and pub gardens as part of its plan to ease COVID-19 restrictions, and as investors refrained from making big bets ahead of the upcoming earnings season.

The French CAC and the German DAX ended up 0.1% down, and the Swiss Market Index finished 0.5% lower. The FTSE 100 and the European STOXX 600 closed down 0.4%.

In the latest on Brexit, Britain and the European Union have advanced negotiations on the implementation of post-Brexit trade regulations in Northern Ireland, the Financial Times reported. The EU's Brexit commissioner, Maros Sefcovic, and his UK counterpart David Frost are expected to meet during the week to review the developments.

The European Parliament will on Tuesday review the European Commission's proposal to issue digital green certificates to resume travel across the region by summer. The proposal aims to launch a free certificate confirming the vaccinated population, a negative COVID-19 test result and those recovered from the virus.

On the COVID-19 vaccine front, Johnson & Johnson (JNJ.F, JNJ) commenced delivering its COVID-19 vaccine to EU countries as well as Norway and Iceland. The US pharmaceutical company has a deal with the bloc to deliver 55 million doses by the end of June and 120 million during the third quarter of 2021.

Among companies, shares of both Veolia Environnement (VIE.PA) and Suez (SEV) jumped after the companies agreed in principle on the key terms and conditions of their merger, following months of negotiations. Veolia was up nearly 10% and Suez rose nearly 8%.

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