European equities delivered a mixed performance on Monday as traders positioned themselves ahead of a busy week packed with interest rate decisions from the U.S. Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia, and the Bank of Canada.
German industrial output surprises to the upside
Fresh data out of Germany showed an unexpected acceleration in industrial production during October. Destatis reported that output rose 1.8% month-over-month, far exceeding expectations for a sharp slowdown to just 0.2% after a revised 1.1% rise in September.
On an annual basis, production increased 0.8%, reversing September’s 1.4% drop.
Major indices show mixed performance
The DAX edged 0.3% higher, while both the FTSE 100 and CAC 40 slipped 0.1% in early trading.
Corporate movers
- Kloeckner & Co (TG:KCO) surged 18% after confirming discussions over a potential voluntary takeover offer from U.S. metals processor Worthington Steel.
- Stabilus (TG:STM) fell 1.7% as the car parts supplier reported weaker fiscal 2025 profits, citing difficult market conditions, global tariff tensions, and mounting pricing pressure in the auto sector.
- BNP Paribas (EU:BNP) ticked slightly higher after agreeing to sell its 25% stake in AG Insurance to Ageas for €1.9 billion.
- L’Oréal (EU:OR) slipped nearly 2% following news it will double its ownership in Galderma.
- Sandoz (LSE:0SAN) climbed 3% after finalizing its purchase of Just-Evotec Biologics EU SAS from Evotec SE.
- Smith & Nephew (LSE:SN.) added 1.6% as the medical devices group presented a refreshed strategic roadmap, updated 2026 guidance, and long-term goals through 2028 at its Capital Markets Day.
- Unilever (LSE:ULVR) dropped 3.8% after completing the spinoff of its ice cream unit, now trading as The Magnum Ice Cream Company (TMICC) (LSE:MICC).
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