Europe Stocks Up; Ryanair, Weir Sink on Warnings

European stock markets opened higher on Monday, with heavyweight banks, chemical stocks and pharmaceuticals leading the gains.

The Stoxx Europe 600 index XX:SXXP +0.35% rose 0.5% to 323.10, with shares of GlaxoSmithKline PLC GSK -0.02% UK:GSK +0.94% up 1% and Bayer AG DE:BAYN +1.60% adding over 1%.

Airline and travel stocks were under pressure after Ryanair Holdings PLC UK:RYA -10.59%cut full-year guidance, and shares sank nearly 7%.

In that sector, EasyJet PLCUK:EZJ -3.09% fell over 3%, Thomas Cook Group PLC UK:TCG -2.50% dropped over 2%, International Conslidated Airlines Group SA [: uk:iag] eased 2% and Air France-KLM SAFR:AF -1.51% fell 1.7%. Also down, The Weir Group PLC UK:WEIR -6.87% slid over 6% after it also warned.

Source: Marketwatch