European Markets Mixed After Deutsche Loss

By MarketsFOXBusiness

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European equities were mixed Monday after Deutsche Bank revealed a surprise quarterly loss. Meanwhile, most U.S. financial markets were closed for Martin Luther King, Jr. Day.

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German markets performed the worst Monday out of the major European markets. The DAX slipped 0.32% to 9,712. Deutsche Bank posted a net loss for the fourth quarter, driven by tumbling trading revenues. Germany's largest bank saw its shares slide as much as 5%.

Benchmark stock-market indices in the UK and France were trading slightly lower.

On the Asian front, China said its economy grew at an annual rate of 7.7% in the fourth quarter, down slightly from 7.8% in the three months prior. Equities there fell, with the Hong Kong Hang Seng sliding 0.88% to 22,928 and the Shanghai Composite dipping 0.68% to 1,991 for the first time since July 2013.

Nintendo shares traded in Tokyo dropped 6.2% after the video game hardware and software maker warned it will post an operating loss for its fiscal year ending in March. The company that brought Mario Bros. to the world has struggled against competition from companies like Sony (NYSE:SNE) and Microsoft (NYSE:MSFT) as well as a burgeoning app market.

American stock and bond markets were closed for Martin Luther King Jr. Day. U.S. equity futures traded electronically were little changed, with S&P 500 futures ending the day unchanged at 1834.

In corporate news, Anheuser-Busch InBev (NYSE:BUD) bought back Oriental Brewery for $5.8 billion, including debt.

A slew of big-name companies are set to report quarterly earnings on the week, including: McDonald's (NYSE:MCD), Procter & Gamble (NYSE:PG), Microsoft (NYSE:MSFT), IBM (NYSE:IBM), United Technologies (NYSE:UTX), Johnson & Johnson (NYSE:JNJ), Travelers (NYSE:TRV) and Verizon Communications (NYSE:VZ).

Elsewhere, in commodities, U.S. crude oil futures fell 56 cents, or 0.59%, to $93.81 a barrel. Wholesale New York Harbor gasoline rose 0.35% to $2.63 a gallon. Gold rose $3.90, or 0.21% to 1256.

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