Europe close: Stocks mixed ahead of start of earnings season

European shares finishes on a mixed note in the opening session of the week on the back of weaker Asian markets.

"After a good week, equities are looking a little more hesitant today, with caution prevailing as markets await the start of US earnings season," said IG chief market analyst Chris Beauchamp.

"The prospect of a steady flow of corporate updates offers at least a welcome change from the stimulus & yields focus of the past two months, but with markets having already rallied hard there are understandable fears that the figures will not meet expectations, giving investors an excuse to cut back on risk."

The pan-European Stoxx 600 index slipped 0.25% to 436.15, albeit alongside a 0.03% rise for the German Dax to 15,238.65 while the FTSE Mibtel added 0.44% to 24,536.88.

In parallel, the UK's FTSE 100 was off 0.33% to 6,893.02, despite non-essential shops such as hairdressers and gyms reopening for the first time since a national lockdown was imposed in January.

Britain’s blue-chip index was hit by falling commodity stocks, with a 0.9% decline in the Brent crude oil price and a 1.4% slide in copper. The export-heavy FTSE was also hit by a stronger pound, which rose against the dollar and euro.

In other equity news, shares in budget airlines easyJet and Ryanair fell after HSBC downgraded their stocks to 'hold' from 'buy'.

Italian diagnostics group DiaSorin jumped 9.63% after it said it will acquire US based Luminex Corp for $1.8bn in an all-cash deal.

French utilities Veolia and Suez were both sharply higher after they agreed a merger deal.