European stock markets closed mixed in Monday trading as the Stoxx Europe was up 0.14%, Germany's DAX was off 0.19%, the FTSE in London gained 0.52%, France's CAC rose 0.72%, and the Swiss Market Index declined 0.16%. In Great Britain, UK labor market conditions continued to worsen in November as permanent placements continued to decline, hitting their sharpest rate since August 2023, as per the KPMG and REC, UK Report on Jobs survey, compiled by S&P Global.
The survey indicated reduced demand for staff, stating that companies are reassessing their staffing needs and pausing recruitment activity due to the potential impact of the government's annual budget on business performance. In Switzerland, the monthly consumer sentiment index compiled by the State Secretariat for Economic Affairs remained unchanged at -37 points in November from October.
However, this score is still an improvement compared to the -48 the index registered a year earlier. In Ireland, the headline seasonally adjusted BNP Paribas Real Estate Ireland Construction Total Activity Index dropped to 47.5 in November from 49.4 in October, indicating that construction activity has declined for the third consecutive month.
In corporate news, Astrazeneca (AZN) announced on Sunday that results of a phase 3 trial of Calquence in combination with venetoclax showed "statistically significant" improvement in progression-free survival in previously untreated adult patients with chronic lymphocytic leukemia when compared with the standard-of-care chemoimmunotherapy.
Stellantis (STLA) plans to rejoin the European auto lobby, the European Automobile Manufacturers Association, which it left in early 2023, as reported by Reuters on Monday. Stellantis did not immediately respond to MT Newswires' request for comment. Shares of the European automaker closed nearly 2% higher in Paris trading.
Meanwhile, British oil and gas giant BP and Japanese power generation company Jera announced on Monday that they are forming Jera Nex bp, a London-based joint venture aimed at integrating their offshore wind businesses. Both companies have agreed to invest up to $5.8 billion before the end of 2030, each holding a 50% stake in the venture..