On Monday European stocks saw a rise, regaining ground in part as the euro slightly declined. London's benchmark index was lower impacted by a decline in shares of Lloyds Banking Group PLC after a ratings downgrade.
The Stoxx Europe 600 climbed 0.2% to 397.37, cutting into Friday’s 0.4% loss, which came after weak data drove concerns about U.S. economic growth and pushed the euro higher against the dollar.
Germany’s DAX 30 was 0.8% higher being sensitive towards the euro fluctuations.
The single currency slid to $1.1373, from $1.1449 late Friday in New York. The euro hadn’t traded at $1.14 since February.
Also Monday, France’s CAC 40 rose 0.2% at 5,001.47, and the U.K.’s FTSE 100 gained 0.4% to 6,990.99.
But Italy’s FTSE MIB dropped 1.2%, with a number of its constituents
moving lower as shares traded without dividend rights. Energy company
Eni SpA fell 2.4%, power provider Enel SpA was down 0.5% and eyewear
maker Luxottica Group SpA shed 1.5%.
Meanwhile, London's FTSE 100 turned 0.2% lower at 6,950.24, as consumer goods and services, and energy shares turned losers.
Investec cut Lloyds's rating on the bank to sell, from hold, sending its shares 1.3% lower. Earlier in May, Lloyds shares became the top-performing on the FTSE 100 after a two-week surge in the aftermath of its first-quarter interim statement and the result of the May 7 U.K. general election, analyst Ian Gordon noted.
Royal Mail PLC picked up 2.6% after Investec upgraded the company’s rating to buy from reduce.
Earlier in the trading day, BHP Billiton shares were more than 5% lower, but have managed to push higher by 3.5%. The shares had been pressured after the new company South32 Ltd. debuted overnight in Australia, which comprises BHP’s non-core assets. The shares opened at 2.13 Australian dollars ($1.71) each, which was toward the lower end of market expectations, MarketWatch says.
