European stocks were subdued on Monday, with weak Eurozone business<\/span> activity data and an inconclusive election result in Spain keeping investors nervous. <\/p>\n
The HCOB Flash Eurozone Composite PMI Output Index, which gauges activity in the manufacturing and services sector, fell to an eight-month low of 48.9 in July from 49.9 in June.<\/p>\n
French and German PMI data also came in weaker than expected, raising fears of a recession. <\/p>\n
Elsewhere in the U.K., the S&P Global\/CIPS composite Purchasing Managers’ Index showed a preliminary reading of 50.7, down from 52.8 in June.<\/p>\n
Investors also looked ahead to key central bank meetings and earnings from tech giants including Meta, Microsoft and Alphabet due this week for directional cues. <\/p>\n
The pan European STOXX 600 was marginally higher at 465.86 after gaining 0.3 percent on Friday. <\/p>\n
The German DAX and the U.K.’s FTSE 100 were little changed while France’s CAC 40 was down 0.2 percent. <\/p>\n
Madrid’s IBEX Index was down 0.8 percent after a late swing toward Prime Minister Pedro Sanchez’s Socialists denied his right-wing opponents a majority in parliament.<\/p>\n
In corporate news, Danish biotech company Bavarian Nordic plummeted 23 percent after saying that it was ending its respiratory syncytial virus (RSV) vaccine program, following poor trial results. <\/p>\n
Swiss wealth manager Julius Baer jumped more than 8 percent after reporting strong earnings. <\/p>\n
British online grocer Ocado jumped 10.5 percent after settling a three-year intellectual property dispute with Norwegian robotics company AutoStore Holdings.<\/p>\n
Telecom company Vodafone surged 4.4 percent after reporting better revenue growth in the first quarter and naming a new CFO.<\/p>\n
S4 Capital slumped 18 percent after the digital advertising and marketing-services firm cut its annual revenue growth and core profit margin forecasts, citing challenging macroeconomic conditions and cautious clients.<\/p>\n
Alstom rose over 1 percent in Paris. The French rolling stock maker and RAILPOOL, a German rolling stock leasing firm, have signed a contract worth up to 260 million euros, for 50 Traxx Universal multi-purpose locomotives. <\/p>\n
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