European stocks were largely flat on Monday as losses in automakers countered gains in miners, while investors braced for a busy week of corporate earnings and economic data. The pan-European STOXX 600 index inched up 0.02 per cent in early trading after it recorded its first weekly loss in eight on Friday. A 10-year high for Shanghai copper prices and a surge in other metals boosted shares of European miners, with the basic resources index climbing 0.5 per cent to lead sectoral gains. Auto stocks took a hit, with Volkswagen slipping 1.1 per cent after the Financial Times reported the company had warned managers to prepare for a bigger production hit in the second quarter due to a global chip shortage. In Dublin, the Iseq index was up nearly 0.4 per cent with banks leading the way.

Source: The Irish Times April 26, 2021 08:37 UTC