European stock markets wavered around the flat line on Monday after posting a fifth straight week of gains on Friday and with no major data releases from either sides of the Atlantic to provide more market direction.
The Stoxx Europe 600 index was slightly lower at 322.65, after posting the largest five-week point gain since the week ending Aug. 9. on Friday.
In Europe, the U.K.’s FTSE 100 index rose 0.1%, while France’s CAC 40 index added 0.2%. Germany’s DAX 30 index was slightly higher.
Shares of RSA Insurance Group PLC slid 11% after the company late Friday issued a profit warning for the full year and said it had suspended the chief executive and chief financial officer of its Irish division, as it investigates issues that were identified during a routine audit. Credit Suisse cut the insurance firm to underperform from neutral following the announcement of problems with the Irish business.
BT Group PLC fell 1.4% after the telecom and broadband provider bought the rights to broadcast live Champions League and Europa League soccer matches for 897 million pounds ($1.4 billion). The rights are currently held by rivals British Sky Broadcasting Group PLC , down 9.1%, and ITV PLC , 1.4% lower.
On a more upbeat note in Europe, shares of Lonmin PLC rallied 7% after the platinum miner said it swung to profit on the full year as it recovered from the effects of a violent strike last year.
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