European Stocks Mixed With Focus On Brexit And Corporate Results

Markets in Europe opened mixed on Monday as investors focused on the latest developments in the Brexit, as well as corporate earnings and economic data. UK Prime Minister Boris Johnson had to formally ask the European Union to postpone Britain's exit from the bloc for three months after the British parliament approved the Litwin amendment, delaying the vote on the new Brexit agreement.

However, Johnson reportedly refused to sign the letter to the EU and urged Brussels in a separate letter to reject the request. Meanwhile, the data showed that German producer prices fell less than expected in September, SAP posted a 13% jump in third-quarter revenue.

German producer prices fell 0.1% in September

Producer prices in Germany fell 0.1% in September compared to the same month last year, the National Statistical Office announced on Monday. The decline was smaller than analysts had expected. In August, the producer price index rose 0.3%.

Energy prices, which fell 1.9%, contributed to the annual decline in September, as prices of petroleum products fell 7.6% and natural gas prices fell 6.8%. The decline was offset to some extent by electricity which rose 3.7% excluding energy, PPI rose 0.5% compared to the same month of 2018. Non-durable consumer prices rose 1.8%, capital goods prices rose 1.5%, and durable Consumer prices rose 1.4%, while intermediate goods prices rose 1%.

On a monthly basis, the producer price index rose 0.1% in September compared to August.

European shares trading

• The DAX rose 0.24% at 09:03 CET. Wirecard, which rose 5.37% at 9:04 CET, was the best performer.
• The FTSE 100 was flat at 9:03 ama CET.
• Meanwhile, the CAC 40 fell 0.07% at 9:00 am CET as Danone, led by 1.14% at 09:02 CET, led losses.

The euro lost 0.15% against the dollar to sell at 1.11543 at 9:05 AM CET and the pound fell 0.42% compared to the US currency to go at 1.29206 at the same time.