Most European markets marginally fell Monday as investors remained in a watchful mode amid concerns that the economic condition of the euro zone is worsening.
The German DAX 30 index marginally fell 0.09 percent, or 5.52 points, to 6404.59. Shares of Deutsche Bank AG dropped 1.35 percent and those of Bayer AG declined 0.30 percent.
The French CAC 40 index marginally dropped 0.08 percent, or 2.67 points, to 3166.12. Shares of Societe Generale SA fell 0.23 percent and shares of Credit Agricole SA declined 0.32 percent.
London's FTSE 100 index marginally declined 0.02 percent, or 1.17 points, to 5661.46. Shares of BP PLC fell 0.51 percent and those of Capita PLC declined 0.37 percent.
Spain's IBEX 35 rose 0.28 percent, or 19.20 points, to 6758.10. Shares of Bankia SA rose 0.12 percent and those of Telefonica SA advanced 0.20 percent.
The euro zone finance ministers will meet in Brussels Monday to discuss further the measures to be taken to tackle the debt crisis looming over the region. The implementation details of the official loans for the Spanish banks will be a main item on the agenda. The renegotiation of the Greek bailout program and the roadmap to a banking union are also expected to make progress in the meeting.
Investors are running out of patience in the aftermath of the European Central Bank meeting last week. Market players are sensing the urgent need to speed up efforts required to rescue the economy of the euro zone. With Spanish and Italian 10-year bond yields trading around 7 percent and 6 percent, respectively, more progress in the rescue effort is needed sooner rather than later.
"The macro news and the slow pace of information flow on the rescue effort have reinforced the negative market sentiment towards euro area, and it will likely need some fresh news in order to break out of this mood," Credit Agricole said in a note.
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