European shares closed mostly in the red Monday, as investors hesitated to add long positions and waited for more clues regarding the prospects of global economy. A holiday in Britain kept volumes thin.
The German DAX Index shed 38.76 points or 0.65% to 5912.41, and the French CAC 40 eased 20.43 points or 0.58% to 3487.01. The London market was closed for a bank holiday.
In the US, the Dow, the Nasdaq and the S&P 500 are down around 0.70% each.
Crude oil for October delivery on the New York Mercantile Exchange dropped $0.74 to $74.43 a barrel,
while the price of gold was relatively flat near $1238 an ounce.
Among economic releases, euro-zone economic confidence rose to 101.8 in August from 101.1 in July and came slightly above the expected reading of 101.6, according to a survey from the European Commission. Consumer confidence also improved, to minus 11 in August from minus 14 in the previous month.
Poland's gross domestic product increased 1.1% in the June quarter, faster than the 0.7% rise in the March quarter. Year-over-year, the Polish economy grew 3.8%, following a 3.1% rise between January and March and higher than economists' expectations for a 3.2% growth.
In Belgium, the rate of consumer price inflation eased for the first time in eleven months. The consumer price index rose 2.32% year-on-year in August, slower than a 2.57% growth in the previous month.
Portugal's industrial output edged up 1.5% year-on-year in July, slower than a 3.4% increase in the previous month. On a monthly basis, industrial output fell 1.1% in July, following a 0.7% drop in June.
Auto stocks were weak in Frankfurt. MAN lost 2.06%, BMW dropped 1.48%, Volkswagen gave in 0.93% and Daimler trimmed 0.87%.
Infineon Technologies fell 4.58% after agreeing to sell its wireless chip unit to US technology giant Intel for about $1.4 billion in cash.
Chemical makers Linde and BASF shed over 1% each.
Steel producer ThyssenKrupp trimmed 1.09% and electronics firm Siemens surrendered 1.57%.
Deutsche Bank lost 1.09% and Commerzbank eased 0.39%.
Personal care products maker Beiersdorf ended down 1.05%.
Meanwhile, Fresenius Medical Care gained 0.50% and utility company E.ON edged up 0.11%.
In Paris, France Telecom led the losers. Shares of the internet provider dropped 3.45%.
Tire company Michelin fell 2% and equipment maker Alstom lost 1.84%.
Among banks, BNP Paribas trimmed 1.25%, Dexia shed 1.16% and Societe Generale eased 0.65%. Insurer Axa gave in 1.76%.
Car maker Renault lost 1.33%, while Peugeot added 0.23%.
Construction firm Bouygues shed 1.21% and Vinci ended down 1%.
Electrical equipment manufacturer Schneider Electric and media company Lagardere trimmed over 1% each.
Among the gainers, Sanofi-Aventis gathered 0.66%. The drug maker revealed an offer to buy US biopharmaceutical firm Genzyme Corp for $18.5 billion in cash. However, Genzyme rejected the offer.
Telecom equipment supplier Alcatel-Lucent rose 1.62%, retail chain Carrefour added 1.10% and wine producer Pernod Ricard gained 0.58%.
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