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European markets edge lower amid earnings; oil near 2-year peak; Spain’s IBEX up 1.5% – CNBC

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European stocks were slightly lower on Monday morning as investors monitored corporate earnings, while oil prices hovered near 2-year highs amid supply fears.

The pan-European Stoxx 600 edged 0.1 percent lower during early morning deals, with sectors and major bourses pointing in opposite directions.

Food and beverages and household goods were the worst performing sectors on Monday morning, down 0.6 percent amid earnings news.

Looking at individual stocks, Bankia reported a 10 percent fall in third-quarter net profit on Monday morning, as lending income remained pressured by low interest rates. Spanish banks posting their latest earnings have had their results partially overshadowed by Catalonia’s push for independence. However, Bankia’s shares have been less affected, and on Monday, they rose more than 2 percent.

Glencore increased its full-year marketing guidance for earnings before interest and tax (EBIT) to between $2.6 billion and $2.8 billion on Monday. The mining and commodities trading group cited the continuing recovery from the commodity crash that ended in 2016. Its shares were down 0.6 percent in early morning deals.

Not a Scientific Survey. Results may not total 100% due to rounding.

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European markets edge lower amid earnings; oil near 2-year peak; Spain’s IBEX up 1.5% – CNBC

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