European stocks finished mostly lower on Monday as investors took profits after the STOXX 600 touched another record high earlier in the session. The broad STOXX 600 slipped 0.35% to 650.5, with weakness in healthcare, utilities, and food & beverage shares leading the decline. Despite the broader pullback, Germany's DAX outperformed, rising 0.15% to another record close, supported by stronger-than-expected German industrial orders and continued optimism over the country's economic outlook.
Italy's FTSE MIB also closed at a new record level up 0.27% at 52959.13.
Corporate news helped offset some of the broader weakness. easyJet jumped after agreeing to a £7.34 billion takeover by a consortium led by CVC, while defense stocks remained well bid as the war in Ukraine showed no signs of easing. Exail Technologies rallied after a drone technology acquisition, Airbus gained after reaffirming its full-year delivery guidance despite June production challenges, and Ferrari advanced on the launch of a limited-edition V12 model. Investors are also beginning to shift their attention toward the upcoming earnings season, with expectations that AI-related spending and solid corporate capital expenditure will continue to support equity markets.
Major European index closes:
- 🇩🇪 Germany DAX: 25,817.90 (+0.15%)
- 🇫🇷 France CAC 40: 8,479.88 (-0.33%)
- 🇬🇧 UK FTSE 100: 10,651.78 (-0.26%)
- 🇪🇸 Spain IBEX 35: 19,683.79 (-0.85%)
- 🇮🇹 Italy FTSE MIB: 52,959.13 (+0.27%)
