FX.co ★ European Stocks Close On Mixed Note

European stock markets had a mixed end on Monday, initially lifted by optimistic economic data from the region but later subdued due to rising Middle Eastern tensions. Reports suggest that Israel is preparing for a potential response to Iran, following Iran's attack on Israel that was an alleged retaliation for their airstrike on Iranian consular offices in Syria.

The pan-European Stoxx 600 managed to close up by 0.13%, with Germany's DAX and France's CAC 40 rising 0.41% and 0.43% respectively. The UK's FTSE 100 dropped by 0.45%, while Switzerland's SMI wrapped up higher by 0.14%. Markets in Iceland, Poland, Russia and Sweden also closed on an optimistic note.

In the UK market, various companies including Beazley, IMI, Admiral Group and BAE Systems gained between 1 and 3.2%. On the flipside, companies like Fresnillo, BP, BT and Centrica dropped 1 to 2.3%.

In the German market, Adidas's shares surged by 4% after an upgrade from Morgan Stanley, changing the stock rating to "overweight". Meanwhile, Bayer, RWE, Qiagen, Merck and Brenntag closed considerably lower.

In France, shares in Stellantis rose by about 2.7% and WorldLine gained over 2%. However, Societe Generale shares plunged by over 3%.

Swiss software company, Temenos, saw its shares soar by 20% after its board found allegations by Hindenburg Research to be baseless.

Positive economic news also emerged from the Eurozone as industrial production increased by 0.8% in February, contrasting with the 3% drop seen in January. However, Switzerland reported a decline in producer and import prices for the eleventh consecutive month in March, closing at a 2.1% decline year-on-year. Despite this, monthly prices rose by 0.1% primarily due to increased costs for petroleum products.