Majority of the stocks in Europe finished on the negative territory after several investors were wary of a possible rapid inflation in European economies.
British Telecommunications Company Vodafone was currently at gunpoint after concern that the firm needs to raise a lot of money if it desires to purchase assets from cable company Liberty Global. Vodafone lost as much as 4 percent in shares on the markets closing.
Cardiff, Wales-based Semiconductor Company IQE was also at the bottom of the European benchmark as it shares dropped more than 11 percent in value. This came in after its practices in accounting was questioned. However, an analyst from Barclays rejected the claims that it came in 2.3 percent lower on Monday.
European stocks benchmark Stoxx 600 was 1.5 percent down on Monday’s closing bell. All of its sectors and major bourses are in the red zone.
Meanwhile, British home improvement garden and retailer center Homebase has signaled it will shut down some stores, following a rapid decline in Monday’s trading session. Homebase was bought be Australian conglomerate Wesfarmers last two years and will rebrand the firm as Bunnings. This has made its parent company Kingfisher add more than 2.26 percent in shares.
London-based business process outsourcing company Capita didn’t also follow the trend as it settled the day 6.5 percent higher in shares. This came in after it recovered some of its gains when the stock dropped to an almost 20-year low on the previous week.