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European Equities Close Mixed in Monday Trading; EU Trade Balance Records Surplus for 4th Straight Quarter
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European Equities Close Mixed in Monday Trading; EU Trade Balance Records Surplus for 4th Straight Quarter
Aug 29, 2024 8:56 AM

12:57 PM EDT, 08/26/2024 (MT Newswires) -- The European stock markets closed mixed in Monday trading as The Stoxx Europe 600 was off 0.01%, the Swiss Market Index gained 0.06%, France's CAC was up 0.18%, and Germany's DAX closed 0.09% lower.

The FTSE Index was closed for a public holiday

The European Union balance for trade in goods was 40.4 billion euros in Q2, down from 55.3 billion euros the previous quarter, according to Eurostat, the statistical office of the EU. It was the fourth straight quarter the EU registered a trade surplus.

In Germany, the ifo Business Climate Index fell to 86.6 points in August from 87.0 points in July. Ifo said the companies assessed their current situation as worse, and that "the German economy is increasingly falling into crisis."

And in corporate news, Unilever is planning to divest skincare brands Kate Somerville and REN, British news channel Sky News reported Sunday, citing unnamed sources. The British-Dutch consumer goods giant is already working with PricewaterhouseCoopers to field interest from potential buyers for Kate Somerville, Sky News said, adding that the valuation is still unclear. Unilever declined MT Newswires' request for comment, while PwC did not respond.

Swiss pharmaceutical company Novartis said it has received a binding offer from Siemens Healthineers to acquire its molecular imaging business.

"This would allow Novartis to continue focusing its own efforts and capabilities as a pure-play innovative medicines company," a Novartis spokesperson said in an emailed statement to MT Newswires on Monday.

Siemens Healthineers confirmed in an emailed statement to MT Newswires the details in the Financial Times report about the acquisition of the Advanced Accelerator Applications diagnostics business.

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