European Markets Finished With Mixed Results On Light News Day

(RTTNews) - The European markets ended the first day of the new trading week with mixed results. The European markets enjoyed strong gains during the previous trading week, so some profit taking was to be expected. Mining stocks were among the weakest performing stocks, after Citigroup downgraded its rating on the iron ore sector.

There was very little economic data to drive the direction of trading, except for some weak trade data from China. Investors will be watching for a significant ramp up in the U.S. earnings reporting season this week, as well as a number of important U.S. economic reports.

The Euro Stoxx 50 index of eurozone bluechip stocks increased by 0.38 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, added 0.19 percent.

The DAX of Germany declined by 0.29 percent, but the CAC 40 of France rose by 0.26 percent. The FTSE of the U.K. fell by 0.36 percent and the SMI of Switzerland finished lower by 0.44 percent.

In Frankfurt, Volkswagen fell by 1.66 percent. The company has plunged into a full-blown leadership crisis after Chief Executive Martin Winterkorn vowed to resist efforts to oust him.

In Paris, Airbus Group rose by 1.42 percent. The aircraft manufacturer on Saturday said it plans to raise its Indian outsourcing to $2 billion in a bid to forge a stronger industrial bond with India.

Dassault Aviation gained 1.34 percent. The aircraft maker has welcomed the announcement that the Indian government intends to finalize the acquisition of 36 Rafale aircraft.

In London, BHP Billiton dropped by 3.25 percent, Rio Tinto lost 0.81 percent and Anglo American Plc declined by 2.28 percent. Citigroup said it expects iron ore prices to fall to $36 a ton in the third quarter and stay below $40 for the rest of the year amid waning demand from China.

EasyJet Plc. fell by 1.20 percent. The low-cost airline announced that it has appointed Andrew Findlay, currently CFO of Halfords plc, as its new CFO.

Pearson decreased by 1.90 percent, after Jefferies downgrade its rating on the stock to "Underperform" from "Buy."

France's current account deficit in February increased from the previous month, as the visible trade shortfall widened due to the reduction in the growth of international trade, figures from Bank of France showed Monday.

The seasonally adjusted current account deficit rose to EUR 1.8 billion in February from EUR 0.2 billion in January. The goods trade surplus increased to EUR 2.9 billion from EUR 2.3 billion a month ago.

Italy's industrial production recovered in February after falling for the first time in four months, data from the statistical office Istat showed Monday. Industrial output grew 0.6 percent month-on-month in February reversing a 0.7 percent fall in January. Economists had forecast a 0.5 percent rise.

China's exports logged an unexpected double-digit decline in March and imports fell more than expected, weighing on the outlook for economic growth in the first quarter.

Exports decreased 14.6 percent in March from last year, data from the General Administration of Customs showed Monday. Shipments were expected to grow 9 percent.

Suggesting weak domestic demand, imports dropped 12.3 percent, faster than an expected fall of 10 percent.

The trade surplus fell sharply to $3.1 billion, below February's surplus of $60.6 billion and a $40.1 billion forecast by economists. Foreign trade slid 13.5 percent on a yearly basis.