(MENAFN- AFP) Eurozone stock markets tentatively rose Monday, buoyed by resilient German post-Brexit business sentiment, as traders await Japanese and US central bank talks for possible hints of future action.
Frankfurt's benchmark DAX 30 index grew 0.5 percent in value after a key survey showed that Britain's vote to leave the European Union has had a limited impact on business confidence in Germany.
It was the first time pollsters had taken the pulse of Europe's biggest economy since the shock outcome of Britain's June 23 referendum.
Paris' CAC 40 lost some of its earlier momentum to close moderately higher.
"The week begins with returned caution" due to both Brexit concerns and key central bankers meetings and data on the horizon, IG France analyst Alexandre Baradez said.
Meanwhile, London's FTSE 100 slipped 0.3 percent, led downwards by oil companies as prices fell.
"The main drag this afternoon seems to be coming from the commodity sector; Brent Crude has fallen nearly 2 percent, taking the black stuff back below $45 per barrel," Spreadex analyst Connor Campbell in an investors' note.
In Italy, shares in the country's third biggest bank, BMPS, slumped more than eight percent ahead of Friday's release of EU-wide stress tests as the bank weighs how to curb 9.6 billion euros of bad loans by 2018.
Citing unnamed sources, Il Sole 24 Ore business daily said BMPS was the only one of Italy's five banks to undergo the European Banking Authority testing to have failed to receive good results.
- Fed likely to hold fire -
US shares flagged in early trade as investors took in the long-expected deal for Verizon Communications to buy the web assets of troubled tech giant Yahoo for $4.8 billion.
Oil super-majors Chevron, Exxon Mobil and Royal Dutch Shell saw their share prices decline as the industry continues to feel the affects of global oversupply.
Traders are cautiously looking to the US Federal Reserve's gathering Wednesday, followed by the Bank of Japan Friday.
The meetings are the first since the shock outcome of Britain's EU vote which led to promises around the world to provide support to financial markets.
Oanda's Craig Erlam said the Fed was likely to stand pat.
"The US economy has continued to perform well and the labour market bounced back strongly in June which may lead the Fed to reaffirm its intention to raise interest rates this year, while highlighting the number of downside risks to their forecasts," he said in an investors' note.
The BoJ is widely expected to ramp up its stimulus to kickstart the struggling economy.
- Pokemon Go hits Nintendo -
In Tokyo, Nintendo stock plunged almost 18 percent on the broader Topix index after it warned that its popular Pokemon Go smartphone game sweeping the world would not translate into bumper profits.
By the end of last week the firm's share price had doubled in July -- making it more valuable than Sony at one point -- as the app proved a global hit.
But the Kyoto-based company warned in a statement late Friday that the impact of the game's success on its bottom line would be "limited" as it was developed by a US firm.
"It's no great surprise to see Nintendo's stock plunge after the company admitted the Pokemon Go craze would not translate into mega profits," said ETX Capital analyst Neil Wilson.
"The stock is still up around 50 percent from its pre-Pokemon Go price, which is probably a better reflection of what is still a game changer for Nintendo as it starts to tap the mobile gaming market.''
- Key figures at 1545 GMT -
London - FTSE 100: DOWN 0.3 percent at 6,710.13 points (close)
Frankfurt - DAX 30: UP 0.5 percent at 10,198.24 points (close)
Paris - CAC 40: UP 0.2 percent at 4,388.00 points (close)
EURO STOXX 50: DOWN 0.1 percent at 2,969.37
New York - DOW: DOWN 0.6 percent at 18,468.20
Tokyo - Nikkei 225: FLAT at 16,620.29 (close)
Hong Kong - Hang Seng: UP 0.1 percent at 21,993.44 (close)
Shanghai - Composite: UP 0.1 percent at 3,015.83 (close)
Euro/dollar: DOWN at $1.0975 from $1.0976
Pound/dollar: UP at $1.3125 from $1.3112
Dollar/yen: DOWN at 106.07 yen from 106.19 yen
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