European Stocks Close Mostly Higher in Monday Trading; BHP Not Planning to Bid on Glencore

The European stock markets closed mostly higher in Monday trading as The Stoxx Europe was up 0.16%, Germany's DAX gained 0.57%, the FTSE 100 rose 0.16%, and the Swiss Market Index edged 0.02% higher, while France's CAC was off 0.04%.

Seasonally adjusted services production increased 0.3% in both the euro area and the EU in October, compared with September, according to preliminary estimates from Eurostat, the statistical office of the EU. Compared with a year earlier, services production increased 2.1% in both the euro area and the EU.

In Switzerland, the consumer sentiment index for December was -31 points, which was little changed from a year earlier, according to the State Secretariat for Economic Affairs. Analysts were expecting a reading of -34, according to Bloomberg.

And in corporate news, BHP will wait out merger talks between Rio Tinto and Glencore, and it is not currently planning a bid for Glencore, Reuters reported Monday, citing two people familiar with the matter.

BHP didn't immediately reply to a request for comment from MT Newswires.

Shares of BHP rose 2.5% in London, while Rio Tinto and Glencore shares increased 2.2% and 3.5% respectively.

The French finance ministry said that Eli Lilly has not contacted it about a potential bid to acquire French biotech firm Abivax, which is compulsory for pharmaceutical companies under the country's investment screening rules, Bloomberg reported Monday.

French media outlet La Lettre reported Monday that Eli Lilly was preparing a 15-billion-euro ($17.53 billion) takeover offer for the company.

Abivax and Lilly didn't immediately respond to MT Newswires' requests for comment.

Shares of Abivax were up 5% in Paris.

BBVA is trying to sell 380 million euros ($443.9 million) worth of mortgages as part of an effort to clear its balance sheet, Bloomberg reported on Monday, citing a document.

The Spanish bank is in talks with investors over loans tied to about 3,900 properties, according to the document, which outlines a project called Terral.

BBVA declined to comment to MT Newswires.

Shares of BBVA increased 1.8% in Madrid.

HSBC said Monday that it has launched a United Arab Emirates asset management unit.

The British lender said it also registered 10 new onshore investment funds with the UAE's Securities & Commodities Authority.

The onshore funds will provide strategies that are domiciled in the UAE and managed by HSBC Asset Management, the company said.

Shares of HSBC were up 0.7% in London.