DAX Up Marginally; Kloeckner Soares 25% On Takeover News

India's BSE Sensex closed about 0.7% down at 85,103 on Monday, erasing gains from the previous two sessions, as traders opted to book some profits ahead of the Fed's policy decision later this week.

At the same time, ongoing uncertainty over a trade deal with the US and sustained foreign outflows remained a major drag.

All sectors posted declines, with heavyweight information technology and financials among the hardest hit.

In Mumbai, the SENSEX Index fell 610 points or 0.71 percent on Monday.

Leading the losses are Indusind Bank (-3.46%), Nestle India (-2.56%) and Tata Steel (-2.28%).

Top gainers were Tech Mahindra (1.22%) and HCL Tech (0.12%).

The CAC 40 slipped 0.3% to around 8,080 points on Monday, extending last Friday’s modest losses, as investors remained cautious ahead of the Federal Reserve’s policy decision on Wednesday.

A third rate cut is widely expected, though uncertainty over the 2026 outlook persists.

At the same time, attention turned to the ECB after official Isabel Schnabel said she is comfortable with market bets that the central bank’s next move could be a rate increase.

Among individual stocks, L’Oréal fell 1.6% despite strengthening its partnership with Swiss dermatology group Galderma by acquiring an additional 10% stake, bringing its total ownership to 20%.

Other consumer names also retreated, including Hermès (-1.7%), LVMH (-1.1%), Kering (-0.6%), Pernod Ricard (-1.2%), and Essilor (-0.3%).

In contrast, aerospace stocks gained, led by Thales (+1.2%), Safran (+0.8%), and Airbus (+0.3%), while industrials also advanced, with Legrand (+0.7%) and Vinci (+0.6%) posting modest increases.

London’s FTSE 100 fell 0.1% to 9,660 on Monday, its lowest since November 25, as investors eyed a busy week of central bank decisions, including a likely third Fed rate cut on Wednesday.

Attention will focus on updated FOMC projections amid uncertainty over 2026 policy.

Meanwhile, UK data showing accelerating wage growth could also complicate the Bank of England’s outlook.

A survey by the Recruitment & Employment Confederation and KPMG showed starting pay for permanent staff rose at the fastest pace in five months, even as hiring slowed and jobseekers increased, highlighting persistent wage pressures.

The findings echo the BOE’s Decision Maker Panel, highlighting persistent wage pressures despite a weakening labor market.

On the corporate front, Unilever tumbled nearly 4% to the bottom of the index after completing its Magnum spinoff.

Other notable decliners included Unite Group, Barratt Developments, Redrow, Frasers Group, and B&M European Value, all falling more than 2%.

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were mixed on Monday ahead of interest-rate decisions from the U.S. Federal Reserve, the Swiss National Bank, the Reserve Bank of Australia and the Bank of Canada this week.

In economic releases, Germany's industrial production growth accelerated unexpectedly in October, official data showed.

Industrial output logged a monthly growth of 1.8 percent in October, Destatis reported.

Economists were expecting the increase to ease sharply to 0.2 percent from a revised 1.1 percent rise posted in September.

On a yearly basis, industrial production gained 0.8 percent, in contrast to the 1.4 percent decrease in September.

The pan-European Stoxx 600 was little changed at 578.71 after finishing marginally lower on Friday to snap a three-day winning streak.

The German DAX edged up by 0.1 percent, while France's CAC 40 slipped 0.2 percent and the U.K.'s FTSE 100 was marginally lower.

Kloeckner and Co shares soared 18 percent. The German metals company has confirmed it is in discussions regarding a potential voluntary takeover offer from U.S. metals processor Worthington Steel.

Car parts supplier Stabilus declined 1.7 percent after its profit fell in fiscal 2025, impacted by unfavorable market conditions, the global tariff conflict, and the higher pricing pressure in the automotive business.

French bank BNP Paribas edged up slightly after it signed an agreement to sell its 25 percent stake in AG Insurance to Ageas for €1.9 billion.

Beauty giant L'Oreal lost nearly 2 percent on news it will double its stake in Swiss skin care firm Galderma.

Swiss major Sandoz rallied 3 percent after completing the acquisition of Just-Evotec Biologics EU SAS from Evotec SE.

Smith & Nephew advanced 1.6 percent. The medical technology company outlined a new strategic plan, updated 2026 guidance, and long-term 2028 goals at its Capital Markets Day in London.

Consumer goods giant Unilever slumped 3.8 percent after completing the demerger of its ice cream business, now known as The Magnum Ice Cream Company (TMICC).

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