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European stock markets strike mixed note

London - Europe's stock markets closed mixed on Monday, starting the week on a tepid note as traders weighed a raft of corporate news ahead of a big week for economic data.

London's benchmark FTSE 100 index inched down 0.05% to end the day at 6 788.07 points in the British capital.

In Paris, the CAC 40 gained 0.33% to 4 344.77 points while Frankfurt's DAX 30 index fell 0.48% from Friday's close to 9 598.17 points.

"European markets didn't do too much today (on Monday) with late losses from US data ahead of a big week for global economic reports and corporate earnings," said Jasper Lawler, a market analyst at CMC Markets UK.

Main focus

"The match really kicks off tomorrow (on Tuesday) for markets with the release of the US consumer confidence report and results from the likes of BP and Twitter."

Dealers are expected to focus on July non-farm payroll data due to be released in Washington on Friday, with hopes for another strong set of figures after better-than expected numbers last month.

In Europe, unemployment and manufacturing data from the region's top economies will be the main focus.

Wall Street stocks also kicked off the busy week of earnings and economic data lower, with the Dow Jones Industrial Average shedding 0.14% to 16 937.11 in mid-afternoon trading.

Profits jumped

The broad-based S&P dipped 0.19% to 1 9774.65, while the tech-rich Nasdaq Composite Index fell 0.37% at 4 433.32.

Stocks in Moscow slid to two-and-a-half month lows amid fears the EU will impose its first sector-wide sanctions on Russia over its alleged support of rebels in Ukraine on Tuesday.

The benchmark ruble-denominated Micex index ended down 1.9% and the dollar-based RTS index lost 3%.

Russian equities have taken a huge hit since a Malaysian Airlines passenger jet with 298 people on board was shot down on July 17 over rebel-held eastern Ukraine in an apparent missile attack. The West accuses Russia of supplying the missile system to the rebels.

In European corporate news, Reckitt Benckiser shares jumped to the top of the FTSE risers' board, after the British household goods company unveiled plans to spin off its pharmaceuticals division.

Reckitt's share price gained 2.66% to settle at 5 205 pence after the group also revealed that first-half net profits jumped by almost a quarter.

Spain's last big nationalised bank, Bankia, gained 1.31% in Madrid after it reported its first-half net profit rose by almost half as its losses from bad loans dropped.

Ryanair rose 3% after the Irish low-fare airline raised its profit guidance for the whole year, forecasting rising passenger numbers and falling costs.

Economic reform

In foreign exchange activity on Monday, the European single currency firmed to $1.3440 from $1.3430.

The euro was largely flat at 79.11 British pence, compared to 79.10 on Friday. The pound increased to $1.6990 from $1.6973.

The price of gold advanced to $1 304.50 an ounce on the London Bullion Market from $1 294.75 on Friday.

Asian stocks mostly rose on Monday as investors await the release of the key US data, while Shanghai and Hong Kong surged after China approved three private banks as part of an economic reform.

Tokyo rose 0.46% to its highest close since January and Seoul gained 0.74%, while Sydney dipped 0.11%.

The Shanghai market rallied 2.41% and Hong Kong added 0.88%.

Jakarta, Singapore and Kuala Lumpur were closed for public holidays.

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