European equity markets were mixed on Monday, with French stocks declining after a sell-off in French government bonds pushed borrowing costs higher.
The euro fell to a 17-month low against the US dollar amid concerns over French borrowing costs and political uncertainty.
The spread between French and German 10-year government bond yields stood at 146.30 basis points after reaching a nearly 15-year high on Friday.
France’s debt-to-GDP ratio is expected to increase from 119% this year to 122% next year.
France’s CAC 40 fell 0.7%, while Germany’s DAX gained 0.2% and the UK’s FTSE 100 rose 0.6%.
Alm. Brand Raises Outlook as AkzoNobel Agrees $1.35 Billion Sale
Among individual stocks, shares in Danish insurer Alm. Brand rose after the company increased its fiscal 2026 outlook following its third-quarter performance.
AkzoNobel (EU:AKZA) also advanced after the Dutch paints and coatings company agreed to sell its Southeast Asian decorative paints business to Nippon Paint for $1.35 billion.
Deutsche Telekom (TG:DTE) gained after the German telecommunications group said it expects to reduce indirect costs by approximately €2.5 billion by 2030 compared with 2023.
Air Liquide (EU:AI) moved higher after the French industrial gases company presented a new strategic plan covering the period through 2030.
In London, BT Group (LSE:BT.A) rose after acquiring broadband provider TalkTalk out of administration.
Sirius Real Estate (LSE:SRE) also gained after reporting an 11.3% year-on-year increase in its rent roll for the six months to September. The company owns and operates business parks, offices and mixed-use workspaces across Germany and the UK.
Novo Nordisk (TG:NOV), meanwhile, declined after the US Food and Drug Administration extended its review of the company’s experimental haemophilia A treatment.
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