European equities showed a mixed performance in cautious trading on Monday as investors continued to monitor rising geopolitical tensions in the Middle East.
G7 Ministers Meet Amid Economic and Geopolitical Pressures
Finance ministers from the G7 nations are meeting in Paris today and tomorrow to address global economic imbalances, with geopolitical divisions threatening to challenge unity within the group.
At the same time, eurozone government bond yields moved higher, led by Germany’s 10-year bond yield, which climbed to its highest level in 15 years. Investors remain concerned that sharply higher crude oil prices could intensify inflationary pressures and influence the path of interest rates.
Brent crude futures advanced above $110 per barrel after U.S. President Donald Trump warned Iran that the “clock is ticking” regarding peace negotiations.
Major European Indices Turn Mixed
Among the leading European indices, France’s CAC 40 was down 0.4%, while the U.K.’s FTSE 100 gained 0.4% and Germany’s DAX rose 0.8%.
Ryanair, Prudential and Anglo American Decline
Shares of Ryanair (LSE:0A2U) moved sharply lower after the low-cost airline cautioned that rising costs could weigh on performance this year.
Prudential (LSE:PRU) also traded lower after announcing the acquisition of a 75% stake in Bharti Life Insurance.
Meanwhile, mining group Anglo American (LSE:AAL) declined after agreeing to sell its Australian coal mining business to privately owned Dhilmar in a deal valued at $3.88 billion.
Hove Advances on Strong Quarterly Results
Elsewhere, Danish engineering and industrial technology company Hove rallied after reporting record first-quarter revenue and profit growth.
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