European markets mostly head south

European markets mostly head south

On Monday, European markets started mostly lower. It’s because market participants were focusing on a fresh bunch of corporate earnings reports.

The EURO STOXX 50 inched down 0.27%, France’s CAC 40 lost 0.21% and Germany’s DAX 30 descended 0.14%.

Financial equities were broadly lower because French lenders BNP Paribas as well as Societe Generale slumped 1.35% and 1.94% respectively. Meanwhile, Germany's Commerzbank and Deutsche Bank edged down respectively 0.77% and 1.23%.

As for peripheral lenders, Italy's Intesa Sanpaolo and also Unicredit went down respectively 0.28% and 0.92%. Besides this, Spanish banks Banco Santander along with BBVA dipped 0.68% slid 2.24% respectively.

Additionally, in London, FTSE 100 tacked on 0.01%, underpinned by steep revenues in the mining sector.

Equities in Glencore headed north 0.70%, Rio Tinto rallied 1.52%, while Anglo American as well as BHP Billiton climbed 1.95% and 2% respectively.

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