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European Shares Mixed In Cautious Trade

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European stocks held steady near four-week highs on Monday despite renewed concerns over the prospect of imminent U.S. sanctions against Moscow.

As far as developments in Syria are concerned, fears of a wider escalation appear to have faded following the weekend's U.S.-led strike.

The pan-European Stoxx Europe 600 index was marginally lower at 379.02 in late opening deals after closing 0.1 percent higher on Friday.

The German DAX was rising 0.2 percent and France's CAC 40 index was moving up 0.1 percent while the U.K.'s FTSE 100 was down about 0.4 percent as Sage extended Friday's losses and WPP's CEO Martin Sorrell resigned in the face of a probe.

Advertising conglomerate WPP fell nearly 5 percent in London after its CEO Martin Sorrell stepped down following an allegation of personal misconduct.

Sage shares fell over 3 percent, extending Friday's 8 percent loss, after the company cut its annual forecast for revenue growth.

Hammerson rallied 2 percent. Dutch pension fund APG said it would vote against the firm's proposed £3.4bn takeover of rival shopping centre owner Intu Properties.

Whitbread soared 7 percent after Elliott Advisors said it has become the largest shareholder in the company.

France's Sanofi gained half a percent on a Bloomberg report that Advent International Corp. is close to acquiring its European generics division.

Deutsche Bank shares also rose half a percent. Reuters reported citing sources that the European Central Bank has asked the German bank to ascertain the potential costs of winding down its investment banking operations.

Germany's Software AG tumbled over 2 percent after posting weaker-than-expected quarterly revenues at its Digital Business Platform business.

by RTTNews Staff Writer

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