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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Europe close: Stocks little changed in calm trading

(Sharecast News) - European shares ended Monday on a mixed note with US markets closed for the Presidents Day holiday. Investors also opted to sit on their hands ahead of the release of the minutes of the Federal Reserve's last policy meeting, on Wednesday, and potentially key euro area quarterly wage survey data on Thursday.

The pan-European Stoxx 600 index edged up 0.16% to 492.39, alongside a 0.18% dip to 31,676.05 on the FTSE Mib and a flat close on the Cac-40.

Euro/dollar, German Bunds and Brent crude oil futures were little changed alongside.

In the background, shares in Shanghai rose 1.6% as traders returned from the Lunar New Year holidays with sentiment boosted by upbeat travel data - although market commentary around the gains was rather downbeat.

In equity news, Currys was at the centre of a potential takeover battle between US private equity outfit Elliott and Chinese ecommerce giant Currys management said it had already rejected a £700m approach from the former, claiming it "significantly undervalued" the chain. Shares in the chain surged by 35%.

Shares in AstraZeneca rose after the US Food and Drug Administration approved use of the company's blockbuster cancer drug Tagrisso with chemotherapy to treat a type of lung cancer.

Meantime, shares of German IT company Bechtle dropped sharply after Barclays rated the stock as 'underweight'.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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