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Major European stock markets<\/span> ended somewhat weak on Monday, as investors digested quarterly earnings updates from big name European and U.S. companies, and looked ahead to the Federal Reserve’s monetary policy.<\/p>\n The Fed is widely expected to leave interest rates unchanged, but the accompanying statement and Fed Chair Jerome Powell’s post-meeting press conference may shed additional light on the outlook for rates.<\/p>\n Recent economic data has tamped down expectations of a near-term rate cut, with the central bank now seen as likely to leave rates unchanged until at least September.<\/p>\n The pan European Stoxx 600 edged up 0.07%. The U.K.’s FTSE 100 ended 0.09% up, while Germany’s DAX and France’s CAC 40 ended lower by 0.24% and 0.29%, respectively. Switzerland’s SMI ended down 0.11%.<\/p>\n Most of the other markets in Europe ended higher. Austria, Belgium, Finland, Norway, Poland, Portugal, Russia, Sweden and Turkiye closed higher. <\/p>\n Iceland and Spain ended weak, while Denmark, Greece and Netherlands closed flat.<\/p>\n In the UK market, Anglo American Plc gained nearly 4.5%. The company’s board has unanimously rejected a US$39Bn takeover bid from Australia-based BHP, saying the offer “significantly undervalues” the company and its future prospects and was “highly unattractive” for Anglo American’s shareholders.<\/p>\n Entain, Smith (DS), Frasers Group and Beazley gained 3 to 4.5%.<\/p>\n Prudential, St. James’s Place, Smurfit Kappa Group, Airtel Africa, Phoenix Group Holdings, Mondi, Weir Group, Schrodders, Vodafone Group, Admiral Group, Antofagasta and Legal & General advanced 1 to 2.5%.<\/p>\n Astrazeneca gained about 0.7% after the company announced progress with two breast cancer treatments.<\/p>\n JD Sports Fashion ended nearly 3% down. Ashtead Group, B&M European Value Retail, Centrica, Croda International, Natwest Group, IHG, Rolls-Royce Holdings and Relx lost 1 to 2.2%.<\/p>\n In the German market, Fresenius Medical Care rallied about 3.5%. Daimler Truck Holding, RWE, Rheinmetall, Fresenius and Siemens Energy gained 1.5 to 2.7%. Puma, Vonovia, Zalando, Qiagen and HeidelbergCement also ended notably higher.<\/p>\n Deutsche Bank tumbled about 8.6%. The lender has provided updates on the ongoing litigation concerning its acquisition of Postbank, revealing that a legal provision will affect its second-quarter and full-year profitability as well as capital ratios.<\/p>\n The total estimated amount of all claims, inclusive of accumulated interest, stands at about 1.3 billion euros. <\/p>\n Porsche, Commerzbank, Continental, SAP and Merck lost 1.2 to 2.7%.<\/p>\n In Paris, Eurofins Scientific surged nearly 4%. WorldLine, Michelin, Renault, Teleperformance, Alstom, Capgemini, Bouygues, Orange, ArcelorMittal, Engie, AXA and Societe Generale gained 1 to 2.5%.<\/p>\n Hermes International, LVMH, Safran and STMicroElectronics ended notably lower.<\/p>\n In economic news, Euro area economic sentiment deteriorated further in April largely reflecting the difficulties in the industrial sector, survey data revealed.<\/p>\n The economic confidence index dropped to 95.6 in April from 96.2 in the previous month, the European Commission said. The expected reading was 96.9.<\/p>\n The economic sentiment index deteriorated notably in industry, and services, retail trade and construction experienced moderate falls. Only consumer confidence improved from March.<\/p>\n Reflecting the deterioration in the assessment of the current order book, the industrial confidence index fell to -10.5 from -8.9 in the previous month.<\/p>\n Germany’s consumer prices logged a steady pace of increase in April reflecting the stickiness of inflation despite the disinflationary pressure gaining strength over recent months.<\/p>\n The consumer price index posted an annual growth of 2.2%, which was the same rate as seen in March and weaker than economists’ forecast of 2.3%.<\/p>\n The current 2.2% inflation was the lowest since May 2021.<\/p>\n On the other hand, EU harmonized inflation rose slightly to 2.4%, while the rate was expected to remain at 2.3%.<\/p>\n Data showed that core inflation that strips out food and energy softened to 3% in April from 3.3% in March.<\/p>\n Month-on-month, the CPI gained 0.5%, slightly above the expected 0.6%. At the same time, the harmonized index of consumer prices gained 0.6%, in line with expectations. <\/p>\n<\/p>\n<\/div>\n