European Equities: Economic Data to Take a Back Seat as Markets Eye Russia

The Majors

It was a particularly bearish day for the European majors on Monday. The CAC40 slid by 2.27%, with the EuroStoxx600 and the DAX falling by 1.83% and 2.02% respectively.

There were no major stats from the Eurozone or the U.S to distract the markets from the threat of Russia invading the Ukraine. While news of the Ukraine willing to make concessions and Russia willing to talk were positive, there were no troop withdrawals to ease tensions.

The Stats

There were no material stats from the Eurozone to provide the markets with direction.

From the U.S

There were no material stats from the U.S to provide the European majors with direction late in the day.

The Market Movers

For the DAX: It was a bearish day for the auto sector on Monday. BMW and Volkswagen slid by 2.84% and by 3.15% respectively, with Continental falling by 2.02%. Daimler saw a modest 0.17% loss on the day.

It was also a bearish day for the banks. Deutsche Bank and Commerzbank ended the day down by 3.49% and by 2.73% respectively.

From the CAC, it was a particularly bearish day for the banks. Soc Gen slumped by 6.05%, with BNP Paribas and Credit Agricole sliding by 4.85% and by 3.53% respectively.

The French auto sector also had a bearish session. Stellantis NV and Renault ended the day with losses of 2.84% and 4.33% respectively.

Air France-KLM slid by 4.20%, with Airbus SE ending the day down by 1.86%.

On the VIX Index

It was a third consecutive day in the green for the VIX on the Monday.

Following a 14.43% jump on Monday, the VIX rose by 3.55% to end the day at 28.33.

The NASDAQ ended the day flat, while the Dow and the S&P500 saw losses of 0.49% and 2.27% respectively.