European Markets Close Mixed in a Session Without China and the U.S.
Several exchanges in China, South Korea, and Taiwan remained closed for the Lunar New Year, limiting regional references.
Quick overview
- European stock indices experienced slight declines amid weak global liquidity, with the pan-European STOXX index down 0.11%.
- German stocks faced significant losses, contributing to the overall negative performance, while L'Oréal and KONE Oyj were among the top gainers.
- The DAX fell 0.41%, while France's CAC 40 and the UK's FTSE 100 saw minor gains, reflecting investor caution ahead of key economic data.
- In commodities, gold prices dropped 0.66% due to a stronger U.S. dollar, which diminished gold's appeal as a safe-haven asset.
Europe’s main stock indices edged slightly lower in a session marked by weak global liquidity.
With markets in both the United States and China closed for holidays, European equities traded mixed, weighed down by sharp losses in German stocks that dragged the pan-European STOXX index into mild negative territory.
The benchmark European index slipped 0.11%, reflecting investor caution ahead of the release of eurozone industrial production data and a new round of corporate earnings reports.
Among the top gainers were L’Oréal (+3.4%), KONE Oyj (+2.78%), and Santander (+2.53%).
On the downside, Siemens (-6.41%), EssilorLuxottica (-4.8%), and Kering (-4.75%) led the declines.
At the national level, Germany’s DAX fell 0.41%, while France’s CAC 40 rose 0.06%. Outside the eurozone, the UK’s FTSE 100 gained 0.26%, though moves were muted by low global liquidity, amplified by the closure of Wall Street due to the U.S. holiday.
Asia in Focus: Mixed Activity and Market Closures
In Asia, markets also showed a mixed performance. In Japan, the Nikkei 225 slipped 0.25% following disappointing GDP data, while other markets such as Hong Kong posted moderate gains (+0.52%) in shortened trading sessions.
Several exchanges in China, South Korea, and Taiwan remained closed for the Lunar New Year, limiting regional reference points for European traders.
Gold Retreats on a Stronger Dollar
In commodities, gold fell 0.66% on Monday to $5,013.10 per ounce, pressured by a firmer U.S. dollar, which gained 0.16% on the day. Analysts noted that a stronger dollar typically makes dollar-denominated assets more expensive for foreign investors and reduces gold’s appeal as a safe-haven asset.
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