European Shares Mixed In Lackluster Trade

European stocks were trading mixed on Monday as the euphoria over stronger-than-expected U.S. jobs data faded a little and investors awaited further developments on Brexit and the U.S.-China trade dispute.

U.S.-China trade negotiations ended without concrete results last week, though both countries claimed progress after two days of “candid, specific and fruitful” discussions in Washington.

U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will travel to China in mid-February for the next round of talks, according to Xinhua.

On the Brexit front, U.K. MPs will meet Brexit Secretary Steve Barclay today to discuss an alternative arrangement to the Irish backstop.

The pan European Stoxx 600 was virtually unchanged at 359.71 in opening deals after rising 0.3 percent on Friday.

The German DAX was marginally lower and France’s CAC 40 index was declining 0.3 percent while the U.K.’s FTSE 100 was rising 0.2 percent.

Swiss private banking group Julius Baer fell over 4 percent after its full-year profit missed expectations.

Denmark’s logistics company DSV tumbled 3 percent after its US$4 billion-plus bid for Panalpina hit a roadblock.

Budget carrier Flybe Group soared over 11 percent in London after it agreed to demand from its largest shareholder to call a general meeting in aid of removing chairman Simon Laffin.

Miner and commodities trader Glencore dropped 1 percent on reports that it is nearing a $500 million deal to buy iron ore from Brazil’s Companhia Siderurgica Nacional.

Low-cost airline Ryanair Holdings slumped 4.7 percent after it posted a Q3 loss on higher revenues.

Deutsche Bank was marginally lower on a Bloomberg report that the German lender was in advanced talks on receiving an additional investment from Qatar.

Digital payments company Wirecard jumped 9 percent after recent steep losses as it rebutted reports by the Financial Times of alleged financial irregularities.

In economic releases, Sentix research group said its investor sentiment index for the euro zone dropped to -3.7 in February from -1.5 in the previous month. The latest score marked the lowest level in more than four years.

U.K. construction activity hit a 10-month low in January amid Brexit uncertainty, the latest survey report from Markit Economics showed.

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