Europe close: Stocks end little changed

(Sharecast News) - European markets finished a tad lower on Monday as early gains on the back of a strong session in Asia, boosted by Chinese moves to stimulate the country's struggling economy, faded. Worth noting, US markets were closed in observance of Labor Day, meaning that many market participants were away from their desks.

"It looks like investors will have to wait a day for markets to properly digest last Friday's [U.S.] payroll report," said IG chief market analyst Chris Beauchamp.

"The rise in crude prices will have some investors fretting that the Fed will have to go back to hiking rates, but signs of a recovery in China's economy will at least offer some comfort."

The pan-Europe Stoxx 600 index drifted down from the day's highs to end off by 0.04% at 457.96.

In parallel, the German Dax dipped 0.1% to 15,824.85, while the Cac-40 slipped 0.24% to 7,279.51.

Front-dated Brent crude oil was up by 0.3% to $88.85 a barrel on the ICE.

Asian stocks rallied after the weekend vote by creditors in favour of restructuring a bond repayment by troubled Chinese property developer Country Garden. Authorities also lowered downpayment requirements for first and second-time home buyers, in another effort to stimulate the struggling economy.

In European economic news, German trade data showed a 0.9% month-on-month fall in exports in July, while imports rose by 1.4%.

Exports to other EU economies rose month on month by 0.5%, while exports to non-EU economies fell 2.5%, despite another increase in exports to the US and China, largely due to a 3.5% slump in trade to the UK.

Imports from China plunged 5.8%, and those to the UK. fell by 3.2%, but imports from the US picked up 6.1% to €7.9bn. Imports from the UK dropped by 3.2% to £3bn.

In equity news, video game maker CD Projekt lost ground as it unveiled its latest plans.