European stock markets finished lower Monday, after dismal U.S. housing data rattled investor optimism about the state of the economic recovery. At the same time, strong interest in the first Greek bond syndication of 2010 lifted the euro and pushed the dollar lower.
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Recimo ovo su dogadjaji povezani sa trgovinom, ali uprkos tome izgleda da izbori u masachusetsu imaju mnogo jaci uticaj na berze.
In major market action: Italy's Fiat SpA shares declined 3.7%, after the car maker posted a 26% drop in fourth-quarter trading profit, slightly below expectations, due to weak revenue, but the Italian group met its targets for the full year by keeping costs down.
The pan-European Dow Jones Stoxx 600 telecommunications index fell 0.9%, after Sweden's Ericsson Telephone Co. said fourth-quarter net profit fell on higher restructuring costs and lower sales as operator spending remained weak in several markets. Alcatel-Lucent shed 2.9%.
Credit Agricole rose 1.1% and Societe Generale added 1.4%. Deutsche Bank upgraded Societe Generale to buy, citing a "strong long-term growth profile" from emerging markets.
Greek banks were notable risers in the sector, with Piraeus Bank up 6.6%, after signs that investor demand for Greece`s syndicated offering of five-year government bonds is strong.
The market reacted well to results out from Philips Electronics on Monday. Shares of the dutch electronics giant rose 5.1% after it announced a stronger-than-forecast fourth-quarter profit of €251 million. The firm posted a loss of €1.2 billion in the year-earlier period..
Shares of Dutch car maker Spyker Cars soared 76.7% after it said that it's talking to General Motors about the future of GM's Saab unit, but cautioned a deal is far from assured.
German solar developer Conergy jumped 10.5% after it said it reached an out-of-court settlement with MEMC Electronic Materials Inc. over a lawsuit related to a solar-wafer-supply contract.
Novartis shares dropped 1% ahead of its fourth-quarter results due Tuesday. Peers GlaxoSmithKline, Roche Holdings, Sanofi-Aventis and AstraZeneca also closed lower.