{"id":19863,"date":"2022-03-21T17:40:54","date_gmt":"2022-03-21T17:40:54","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/03\/21\/european-stocks-close-lower-on-war-jitters\/"},"modified":"2022-03-21T17:40:54","modified_gmt":"2022-03-21T17:40:54","slug":"european-stocks-close-lower-on-war-jitters","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/03\/21\/european-stocks-close-lower-on-war-jitters\/","title":{"rendered":"European Stocks Close Lower On War Jitters"},"content":{"rendered":"
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European stocks closed broadly lower on Monday as the ongoing war between Russia and Ukraine, and reports about an emerging subvariant of omicron strain of the coronavirus<\/span> in Europe weighed on sentiment and rendered the mood cautious.<\/p>\n

According to reports, the Ukrainian government rejected an ultimatum by Russia to surrender the port city of Mariupol or face the consequences.<\/p>\n

The pan European Stoxx 600 edged up 0.04%. The U.K.’s FTSE 100 moved up 0.51%, while Germany’s DAX and France’s CAC 40 ended lower by 0.6% and 0.57%, respectively. Switzerland’s SMI edged down 0.11%.<\/p>\n

Among other markets<\/span> in Europe, Austria, Belgium, Greece, Iceland, Ireland, Poland and Spain ended weak.<\/p>\n

Czech Republic, Finland, Netherlands, Norway and Turkey closed higher, while Denmark, Portugal and Sweden ended flat.<\/p>\n

Energy stocks moved higher as crude oil prices jumped after Houthi rebels targeted various Saudi Aramco oil and gas sites across the kingdom over the weekend.<\/p>\n

In the UK market, Antofagasta surged up more than 8% after it agreed a deal with Canadian partner Barrick Gold Corp and authorities in Pakistan to exit the Reko Diq mine. <\/p>\n

Airtel Africa and Anglo American Plc ended stronger by 6.3% and 6.12%, respectively. Shell, BP, Glencore, Polymetal International, Rio Tinto, Smiths Group and BT Group gained 2 to 4.1%.<\/p>\n

DCC, Fresnillo, Prudential, BAE Systems, WPP, AstraZeneca and Aviva also ended notably higher.<\/p>\n

Ocado Group plunged nearly 8%. Flutter Entertainment, ICP, Entain, Spirax-Sarco Engineering, Aveva, ABRDN, Segro, Hargreaves Lansdown, Smurfit Kappa Group, Berkeley Group Holdings, Experian and Sage Group lost 2 to 4%.<\/p>\n

In the French market, Atos, Veolia, Safran, Danone, LO’real, Unibail Rodamco, Kering, Accor, Faurecia and Dassault Systemes lost 1.4 to 4%. <\/p>\n

ArcelorMittal rallied nearly 5.5%. Thales climbed up 2.65%, while Publicis Groupe and Vivendi gained 1.25% and 1.1%, respectively.<\/p>\n

In Germany, Vonovia, Deutsche Wohnen and Puma lost 3 to 4.3%. Zalando, Siemens, Fresenius, SAP, Adidas, Fresenius Medical Care, Siemens Healthineers and HeidelbergCement lost 1 to 2.3%.<\/p>\n

BMW gained about 2.3%. Bayer advanced 1.3%, while BASF, MTU Aero Engines, Deutsche Bank and Munich RE gained 0.8 to 1%.<\/p>\n

In economic releases, Germany’s producer prices continued to accelerate on energy prices in February, data published by Destatis showed earlier today.<\/p>\n

Producer price inflation accelerated further to 25.9% in February from 25% in January. Nonetheless, this was slightly slower than the expected growth of 26.2%.<\/p>\n

On a monthly basis, producer prices gained 1.4%, slower than the 2.2% increase in the previous month and also the economists’ forecast of 1.7%. <\/p>\n<\/p>\n<\/div>\n