European Stocks Close Broadly Lower Ahead Of Key Data, ECB Policy

European stocks closed lower on Monday after a somewhat choppy session, as investors were a bit reluctant to make significant moves ahead of a slew of key economic data, and the European Central Bank’s policy announcement this week.

Investors awaited cues from the U.K. spring budget, Powell’s congressional testimony, and the European Central Bank’s policy announcement.

The pan European Stoxx 600 edged down 0.03%. The U.K.’s FTSE 100 ended 0.55% down, and Germany’s DAX drifted down 0.11%, while France’s CAC 40 gained 0.28%. Switzerland’s SMI ended lower by 0.14%.

Among other markets in Europe, Austria, Belgium, Finland, Iceland, Norway, Poland, Portugal, Sweden and Turkiye closed weak.

Denmark, Greece, Netherlands and Russia ended higher, while Spain ended flat.

In the UK market, Entain ended lower by about 7%. Ocado recovered after plunging more than 6%. St. James’s Place ended more than 4% down. Anglo American Plc, Next, Whitbread, Croda International, Burberry Group, Mondi, Kingfisher, Schrodders and RS Group lost 2 to 3%.

Endeavour Mining rallied nearly 4%. Melrose Industries, BT and Pearson gained 2 to 2.5%.

In the German market, Daimler Truck Holding, Fresenius, Fresenius Medical Care, Zalando, Porsche, Vonovia and Puma lost 2 to 4%.

Henkel ended lower by about 2% after the chemical and consumer goods company warned of slower sales growth this year.

Covestro, BASF, Siemens Energy, Commerzbank, Adidas, Infineon and Brenntag also ended notably lower.

MTU Aero Engines gained about 3%. Volkswagen, SAP, Qiagen, Siemens Healthineers and Munich RE advanced 1 to 1.8%.

In Paris, WorldLine, Kering, ArcelorMittal, Pernod Ricard, LVMH, Sanofi, TotalEnergies, Renault and STMicroElectronics ended with sharp to moderate losses.

BNP Paribas gained more than 2% after the lender announced the launch of a share repurchase program of 1.055 billion euros.

Thales, Airbus Group, Safran, Air Liquide and Unibail Rodamco gained 1.5 to 2%.

In economic news, survey data published by the behavioral…