Europe close: Stocks surrender early gains
By Alexander Bueso
Date: Monday 24 Mar 2025
(Sharecast News) - European shares gave up early gains on Monday, finishing the session well off their best levels.
That was despite reports that US President Donald Trump's tariffs may be more limited in scope than originally planned.
Mixed preliminary survey results for eurozone business activity did little to help sentiment.
The pan-regional Stoxx 600 index drifted 0.13% lower to 548.9, while Germany's DAX dipped 0.17% to 22,852.66.
The eurozone's manufacturing sector's enduring downturn showed signs of easing amid hopes of more spending on infrastructure and defence, according to flash survey results published on Monday.
HCPB's manufacturing sector Purchasing Managers' Index increased to 48.7 in March from 47.6 in February.
The composite purchasing managers' index rose to 50.4 this month from 50.2 in February and its highest since August. A mark above 50 indicates growth.
In services on the other hand, the PMI fell to 50.4 from last month's 50.6.
The results of the factory PMI boosted arms makers, with Saab, Dassualt, Rheinmetall and Thales all higher initially, although by the close they had all pared their gains.
In other equity news, RWE gained as activist investor Elliott declared a 5% stake in the German energy company and demanded an increase in share buybacks.
Bayer slumped sharply after news on Friday that a US court ordering it to pay more than $2bn to the plaintiff who claimed the chemical's company's Monsanto Roundup weed killer gave him cancer.
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