Europe open: Stocks mixed despite positive economic data

European stocks are trading slightly lower in early trading, amid losses for Basic Resource shares and Banks as traders digest the latest geopolitical news, including the tragic events in London at the weekend.

As of 1015 BST the benchmark Stoxx 600 was down by 0.18% to 391.87, alongside a retreat of 0.94% for the FTSE Mibtel and losses of 0.53% in France's Cac-40 to 5,315.68.

Germany's Dax was closed for Whit Monday.

In parallel, euro/dollar was off by 0.15% to 1.1265.

Front month Brent crude futures were adding 0.5% to $50.19 per barrel on the ICE after Saudi Arabia, Bahrain, the United Arab Emirates and Egypt announced the suspension of air and sea travel to and from Qatar.

Officials in Riyadh cited Qatari support of "terrorist groups aiming to destabilise the region" as the reason for the move.

From a sector standpoint, the Stoxx 600's gauge of Basic Resource companies was down by 0.78% to 387.02, alongside a drop of 0.22% in a subindex of bank shares.

On the economic front, IHS Markit´s composite euro area output index was steady at 56.8 points in May and in-line with a preliminary estimate.

However, the survey compiler's euro area services business activity index printd at 56.3 for May. That was down from a reading of 56.4 for April but ahead of a preliminary estimate of 56.2.

According to Chris Williamson, Chief Business Economist at IHS Markit said, those survey readings added to evidence of continued strong economic growth in the single currency bloc during the second quarter.

"So far in the second quarter the PMI surveys are running at levels indicative of 0.7% GDP growth in France and Germany, with nearly 1% being signalled for Spain and 0.5% in Italy," he said.

Still on the economic calendar for Monday was the US ISM non-manufacturing index at 15:00 BST.

Societe General will launch an IPO of its car leasing arm, ALD Automotive.

Spanish lender Banco Popular was again on the backfoot ahead of a meeting with European Central Bank officials the next day to discuss its current situation.