European stocks hold steady

The Stoxx Europe 600 ended Monday nearly flat, up less than 0.1 percent, as investors awaited political decisions on the war in Ukraine. Markets remained cautious following Friday’s meeting between the US and Russian presidents and fresh talks between the US president, European leaders, and Ukraine’s president.

Danish stocks led gains. Vestas Wind Systems surged 15 percent after US tax incentives for renewable projects proved less restrictive than expected, while Novo Nordisk jumped 6.6 percent on US approval of its Wegovy drug for liver disease. Among laggards, Commerzbank fell 3.2 percent after Deutsche Bank cut its rating to “hold.”

Ten of the 19 market sectors advanced, led by healthcare (1.4%), telecommunications, and media (0.5% each). Commodities (-1.55%), construction (-0.7%), and automotive (-0.6%) declined. National indexes were mixed: CAC40 -0.5%, DAX -0.2%, FTSE100 +0.2%, while Copenhagen’s benchmark soared 3.5%.