Stock market. EU STOCKS slip after China data

European stock markets dropped on Monday, with banks leading the charge south, as investors digested a mixed bag of data from China.

The Stoxx Europe 600 index slipped 0.1% to 335.49, after closing in positive territory for a second straight week on Friday. 

U.S. stock markets were closed for Martin Luther King Jr. Day.

Germany’s DAX 30 index fell 0.3%, weighed by Deutsche Bank. France’s CAC 40 index was flat, while the U.K.’s FTSE 100 index was marginally higher.

Shares of Deutsche Bank AG lost 4.4% after the bank on Sunday reported an unexpected pretax loss for the fourth quarter.

Shares of Peugeot SA slid 6.6% after the car maker’s board approved the broad outline of a possible 3 billion euro ($4.1 billion) capital increase.

On a more upbeat note, shares of Anheuser-Busch InBev SA picked up 1% after private-equity firm KKR & Co. and Affinity Equity Partners reached a deal to sell Oriental Brewery back to the brewer.

Lanxess AG fell 3% after Nomura Holdings Inc cut its rating on the specialty-chemicals maker to reduce from neutral. 

Air France-KLM (AF) dropped 3.8% as UBS AG downgraded Europe’s biggest airline to neutral from buy, citing the recent rally in the shares. Air France rallied 23% since the start of the year through Jan. 17.

Luxottica climbed 2.7% as Deutsche Bank raised its rating for the company to buy from hold, saying the luxury-goods business will post sales growth of 8% and earnings increase of 12% this year.

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