US markets were closed overnight for Presidents’ Day, keeping global trading volumes lighter as investors focused on developments in Europe.
European markets closed modestly higher, with the pan-European Stoxx 600 up 0.1 per cent. Most major bourses and sectors finished in positive territory as investors digested key messages from the Munich Security Conference.
In company news, NatWest Group gained 4.7 per cent after launching a £750 million share buyback program.
French software group Dassault Systèmes fell around 10 per cent after a broker downgrade raised concerns about artificial intelligence monetisation and slowing momentum, briefly triggering a trading halt.
Mining stocks were under pressure. Rio Tinto slipped after suspending work at its Simandou iron ore project in Guinea following a fatality. BHP and Glencore also eased, while Fresnillo and Anglo American traded lower. The FTSE Industrial Metals and Mining Index ended down nearly 0.6 per cent.
Investors are also preparing for earnings this week from Airbus, Nestlé and Renault.
Asia mixed; ASX eyes results
In Asia, Japan’s Nikkei rose 0.2 per cent after December-quarter growth came in below expectations. Trading was thin elsewhere, with China, South Korea and Taiwan closed for the Lunar New Year.
Australian shares are poised to open higher, with ASX 200 futures pointing up 16 points. Attention will centre on a busy earnings slate including BHP, Challenger and Seek, while the Reserve Bank of Australia is set to release minutes from its latest policy meeting.
