Europe Stocks Up; Ryanair, Weir Sink on Warnings

By Yomna Yasser On Nov 4, 2013

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