European Markets Climbed As Investors Await ECB Meeting

(RTTNews) - The majority of the European markets ended Monday's session in the green. Investors managed to shrug off disappointing German retail sales data on hopes for further ECB stimulus measures. The European Central Bank is will make its announcement upon the conclusion of its policy meeting on Thursday. Meanwhile, the Federal Reserve is expected to announce an interest rate hike in December. Investors will be closely watching a slew of U.S. economic data this week, including the employment report for November on Friday.

The Euro Stoxx 50 index of eurozone bluechip stocks increased 0.50 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.18 percent.

The DAX of Germany climbed 0.78 percent and the CAC 40 of France rose 0.56 percent. The FTSE of the U.K. dropped 0.30 percent and the SMI of Switzerland finished lower by 0.11 percent.

In Frankfurt, Volkswagen increased 5.41 percent and Daimler gained 2.49 percent. BMW also finished higher by 1.67 percent.

Deutsche Bank climbed 1.33 percent and Commerzbank added 0.73 percent.

In Paris, Sanofi rose 0.66 percent. The drug-maker said the first shipment of ShanIPV, a brand new injectable, inactivated polio vaccine or IPV manufactured by its affiliate Shantha Biotechnics, in Hyderabad, India, will occur in a couple of days.

Peugeot advanced 3.43 percent and Renault added 1.52 percent.

Kering climbed 1.05 percent and LVMH rose 1.80 percent.

In London, Aberdeen Asset Management dropped 4.60 percent after reporting its full-year results.

Cranswick jumped 5.71 percent. The food producer expects strong Christmas trading period, and said the business remains very well placed to deliver further growth in this financial year.

Delta Lloyd plunged 10 percent in Amsterdam, as the Dutch insurer intends to raise $1 billion euros through a rights issue.

Germany's retail sales declined more-than-expected in October, reflecting a weak start to the fourth quarter spending ahead of Christmas.

Retail sales dropped by real 0.4 percent in October from September, when it remained flat, figures from Destatis showed Monday. In August, sales had declined 0.7 percent. Economists had forecast only a marginal 0.2 percent fall for October.

Germany's consumer prices rose for a second consecutive month in November and at the fastest pace in five months, preliminary figures from Destatis showed Monday. The consumer price index climbed 0.4 percent year-on-year following 0.3 percent increase in October. Inflation was in line with economists' expectations.

U.K. mortgage approvals increased marginally in October, the Bank of England reported Monday. The number of mortgages approved for house purchases rose to 69,630 in October from 69,012 a month ago. It was also above the average of 68,099 over the previous six months but slightly below the expected level of 69,900.

Chicago-area business activity unexpectedly contracted in the month of November, according to a report released by MNI Indicators on Monday. The report said the Chicago Business Barometer tumbled to 48.7 in November from 56.2 in October, with a reading below 50 indicating a contraction in regional business activity. Economists had expected the index to 54.0.

After reporting decreases in U.S. pending home sales in the two previous months, the National Association of Realtors released a report on Monday showing a slight uptick in pending sales in the month of October.

NAR said its pending home sales index inched up by 0.2 percent to 107.7 in October from an upwardly revised 107.5 in September. Economists had expected the index to climb by 1.0 percent.