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Europe shares close mixed; Greece in focus

European equities closed mixed on Monday as investors reacted to new economic data and cheered updates from the pharmaceutical sector.

The pan-European Euro Stoxx 600 index closed roughly flat.

The U.K.'s benchmark FTSE 100 index underperformed, after new manufacturing data for the U.K. managing to miss market expectations. It closed down around 0.5 percent.

The German DAX index closed around 0.2 percent higher, while the French CAC was roughly 0.3 percent higher.

Symbol
Name
Price
 
Change
%Change
Volume
FTSE
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DAX
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CAC
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IBEX 35
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Across Europe, however, the health care sector helped offset losses, however, with new figures on drug production helping to buoy major companies. Roche Holdings, for example, closed 1.3 percent higher.

In other stocks news, Altice closed near the top of European indexes, up 3.1 percent after Barclays raised its price target on the multinational.

Meanwhile, euro zone manufacturing purchasing managers' index (PMI) data on Monday morning showed that factory growth wasn't as strong as previously thought. The reading came in at 52.2. below a preliminary number of 52.3.

Greece weighs

In Greece, the government and its European creditors agreed on the need to reach a reforms-for-aid deal quickly, as Athens missed a self-imposed Sunday deadline for reaching an agreement to unlock more bailout aid, sources close to the talks told Reuters.

Greece faces a 300 million euro ($329 million) payment to the International Monetary Fund (IMF) on Friday and there are doubts the country can honor the debt without further financial aid.

The Greek market was lower on Monday, with new comments by Greece's Prime Minister highlighting the stark differences between his opinions and those of some officials in charge of the country's economic aid.

U.S. stocks traded in a narrow range on Monday.

In Asia, investor sentiment was buoyed slightly as China's official manufacturing purchasing managers' index (PMI) came in at 50.2, in line with forecasts and slightly higher than April's reading of 50.1. The 50-point mark separates expansion from contraction.

HSBC's final China PMI also showed a slight rise to 49.2 in May from the 49.1 flash reading, a third month of contraction, although hopes of further stimulus sent the Shanghai Composite more than 2 percent higher.

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