By Tommy Stubbington and Josie Cox
Global markets focused on mixed economic data Monday, with
investors shrugging off a slump in Greece's equity market as it
reopened after a five-week closure.
The Stoxx Europe 600 closed 0.8% higher, boosted by some upbeat
company earnings and data showing eurozone factory activity in July
grew slightly more rapidly than first estimated.
Greece's Athex Composite index, which had been closed since June
29 as the country's debt crisis intensified, tumbled by more than
16%.
In the U.S., the S&P 500 was down 0.1% as European markets
closed, as a fresh fall in the price of oil weighed on some stocks
and investors reacted to a slew of mixed economic data.
The positive economic signs in Europe came despite a collapse in
Greek factory activity, underlining that the wider eurozone economy
has become increasingly insulated from turmoil in Greece.
"The Greek crisis doesn't seem to have taken too much of a toll
on confidence more widely. The European recovery story looks
intact," said Rob Jones, co-head of European equities at Union
Bancaire Privée.
In Asia, equities dropped after a gauge of Chinese factory-floor
activity slumped to a two-year low and commodity prices continued
to fall.
"This clearly does little to reverse what seems to be a
broadening worry of Chinese economic slowdown," Deutsche Bank
strategist Jim Reid wrote in a note to clients.
In Europe, the lingering concern about China's economy dragged
down mining shares, but most other indexes climbed.
Germany's DAX rose 1.2% and France's CAC 40 added 0.8%. The
U.K.'s FTSE 100, heavily weighted toward the mining sector, fell
0.1%.
Corporate earnings remained in focus in Europe on Monday.
Dutch brewer Heineken NV climbed after robust sales in emerging
markets helped it post a sharper-than-expected rise in first-half
profit.
Shares in Intertek Group PLC closed 11% higher after the
product-testing company reported a 16% higher pretax profit for the
first half and said it expects to meet full-year forecasts.
German lender Commerzbank AG also gained after saying
second-quarter net profit more than doubled.
In currency markets, the euro was 0.5% lower against the dollar
at $1.0963, after rising sharply on Friday.
In commodity markets, Brent crude was 3.8% lower at $50.21 a
barrel. Gold was 0.4% lower at $1,091.20 a troy ounce.
Write to Tommy Stubbington at tommy.stubbington@wsj.com and
Josie Cox at josie.cox@wsj.com