European shares muted after strong week; Ryanair hits 1-month high
© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 24, 2023. REUTERS/Staff - European shares were subdued on Monday after the benchmark index posted its biggest weekly jump since March, while Ryanair hit a one-month high following record annual profit.
The pan-European index edged up 0.1% by 0810 GMT after jumping more than 3% last week, as investors cheered a string of robust earnings and signs of an end to monetary policy tightening by major central banks. Ryanair soared 5.8% after Europe's largest airline by passenger numbers forecast a record annual profit and promised a regular dividend pay, lifting the travel and leisure sector index up 1.3%.) gained 2% on approving the 19 billion euro sale of its fixed-line network to U.S. private equity firm KKR.Evotec dropped 2.6% after RBC downgraded the German biotech firm's stock to"Sector perform" from"Outperform".
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