Europe ends mixed after rally; miners fall |

Europe ends mixed after rally; miners fall

13.04.2015 19:05

Europe ends mixed after rally; miners fall

European equities closed mixed on Monday as investors paused for breath and digested fresh economic data from China, after stellar gains last week.

Miners fall

FTSE FTSE 100 Index 7064.30
-25.47 -0.36% 601460149
DAX DAX Index 12338.73
-36.00 -0.29% 62629811
CAC 40 CAC 40 Index 5254.12
13.66 0.26% 120397269
IBEX 35 IBEX 35 Idx 11866.40
117.10 1.00% 229311692

The pan-European Euro Stoxx 600 Index finished slightly higher, with indexes flipping between positive and negative territory throughout the session at the start of the trading week. Mining stocks – with their heavy exposure to China – were the major underperformer, with weak data from the world’s second-largest economy helping to curb risk sentiment.

London’s FTSE closed around 0.4 percent lower as miners dragged. The sector dipped as much as 1.2 percent in early deals with companies like BHP Billiton, Anglo American both closing sharply lower. Data from China on Monday showed exports fell more-than-expected, down 14.6 percent in March from the year-ago period.

German stocks finished around 0.2 percent lower, while the FrenchCAC ended 0.3 percent higher.

A fall in iron ore prices and downgrades from Citi also helped to compound the drop in the sector.

Read MoreChina’s exports fall in March

Asia growth downgrade

U.S. stocks traded higher on Monday, shaking off a mostly lower open, as investors awaited the beginning of earnings season.

The major indices held above key levels, with the S&P 500 above 2,103, the Nasdaq above 5,000 and the Dow Jones industrial average above 18,000.

Meanwhile, the World Bank trimmed its 2015-2016 growth forecast for developing East Asia and China on Monday, citing a continued slowdown in China and “significant” risks from global economic uncertainties as a reason for the revision.

In the U.S., former Secretary of State Hillary Clinton formally launched her candidacy for the U.S. presidency on Sunday, putting an end to speculation over whether she would run in the 2016 presidential race.

Greece still in focus

In Europe, Greece is expected to remain in the spotlight amid concerns that the country is running out of options to find a solution to its debt problems.

On Sunday, Greece’s finance ministry dismissed a report by a German newspaper which said that euro zone officials were shocked at Greece’s failure to outline plans for structural reforms at last week’s talks in Brussels, Reuters reported Sunday.

Read MoreGreece hits back at reports of euro zone ‘shock’

In stocks news, Sydbank shares rose over 5 percent after the Danish lender announced a share buyback program.

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