BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets closed mostly higher on Monday, as investors picked up stocks amid optimism about a fiscal stimulus in the U.S., and encouraging economic data out of China.
Worries about a surge in coronavirus cases across the continent weighed on stocks and limited their upside. Travel-related and retail stocks were among the notable losers, while automobile and technology stocks had a good outing,
The pan European Stoxx 600 moved up 0.72%. Germany's DAX climbed 0.67% and France's CAC 40 ended higher by 0.66%, while the U.K.'s FTSE 100 declined 0.25%. Switzerland's SMI advanced 0.43%.
Among other markets in Europe, Austria, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Russia, Sweden and Turkey closed higher.
Czech Republic, Greece, Iceland and Poland drifted lower, while Belgium and Spain ended flat.
Automakers were broadly higher after reports that the European Union's new trade chief has called on Washington to withdraw tariffs on more than $7 billion (€5.9 billion) of EU products or face additional duties on exports to Europe.
In Germany, Daimler, Infineon Technologies, Vonovia, Volkswagen, RWE, HeidelbergCement, SAP and Adidas gained 1 to 2%. Thyssenkrupp lost nearly 2% and Wirecard slipped by about 1.7%.
In the French market, Societe Generale, Unibail Rodamco, Hermes International, Bouygues, Schneider Electric, LOreal, Orange, Peugeot, LVMH and STMicroElectronics moved up sharply, while Safran, Technip, Accor and Airbus ended weak.
In the UK market, stocks edged lower as the several parts of the country braced for imposition of more restrictions due to rising coronavirus cases.
AstraZeneca Plc shares rose after the drugmaker struck a $486 million deal with the US government to develop and secure supplies of COVID-19 antibody treatment, while IAG stocks fell after British Airways Chairman and CEO Alex Cruz stepped down as the airline's chief executive. Meanwhile, investors will continue to monitor Brexit negotiations.
Rolls Royce Holdings shares plunged more than 12%. Next, Whitbread, Smiths Group, Royal Dutch Shell, BP and Compass lost 2 to 4%.
GVC Holdings ended nearly 2% after warning that full-year profits will be reduced by up to £40mln per year. Aveva shares lost nearly 4% after the company said its interim revenues will be lower than last year.
On the other hand, Scottish Mortgage, Ds Smith, Ocado Group, Severn Trent, Mondi, Smurfit Kappa Group, Schrodders, United Utilities and Barratt Developers gained 1.5 to 3.2%.
KPN shares rose sharplly reacting to a Bloomberg report that private-equity group EQT was considering a takeover offer for the Dutch telecommunications company.
In economic news, Germany's wholesale prices continued to decrease in September, data from Destatis revealed. Wholesale prices fell 1.8% year-on-year in September but slower than the 2.2% decline posted in August.
On a monthly basis, wholesale prices remained flat after falling 0.4 percent in August.
The State Secretariat for Economic Affairs or SECO said the economic slump due to the impact of the coronavirus pandemic in Switzerland this year is set to be less serious than feared earlier.
According to expert group of the federal government, the economy will shrink only 3.8% in 2020 compared to the previous projection of -6.2%. Nonetheless, the estimated 3.8% fall would be the strongest decline since 1975.
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