European stock markets closed mixed in Monday trading as the Stoxx Europe gained 0.2%, Germany's DAX was up 0.1%, the FTSE 100 rose 0.1%, France's CAC was off 0.2%, and the Swiss Market Index was little changed.

In Germany, business sentiment remained unchanged at 87.6 points per the ifo Business Climate Index for January as assessments of the current situation were revised slightly upwards. The German economy has begun the year "without momentum," ifo said.

Ifo said the manufacturing sector index rose significantly as companies were more satisfied with current business, while expectations were also less pessimistic.

Meanwhile, business sentiment in the service sector has deteriorated with the current situation deemed somewhat worse, with more pessimistic expectations, while overall sentiment declined, ifo said.

And in corporate news, the European Commission has launched an investigation into Grok, the chatbot of Tesla Chief Executive Elon Musk's xAI, to probe whether it "properly assessed and mitigated" risks regarding the deployment of Grok's functions into X in the European Union, the Commission said Monday.

The investigation also includes risks regarding the "dissemination of illegal" content in the bloc, such as "manipulated sexually explicit images, including content that may amount to child sexual abuse material," according to the Commission.

The Commission is probing Grok under the Digital Services Act, it said.

Grok did not immediately respond to MT Newswires' request for comment.

British banks Barclays, NatWest Group, and HSBC will raise their profit targets when they release their annual earnings, Reuters reported Monday, citing people close to the matter.

HSBC is expected to increase its return on tangible equity, or ROTE, guidance, beyond its current "mid teens or better," while NatWest is expected to raise its ROTE guidance for 2027 to as much as 17% from its current 15%, and Barclays will also raise its ROTE outlook, Reuters reported.

NatWest Group declined to comment, while Barclays and HSBC did not immediately respond to requests for comment from MT Newswires.

Shares of NatWest were up 0.6%, Barclays gained 0.3%, and HSBC rose 0.8% in London

India plans to cut tariffs on automobiles from the European Union, including those made by Stellantis to 40% from as much as 110%, Reuters reported Sunday, citing unnamed sources.

India has agreed to reduce the tax on a set number of cars from the EU with a price tag of more than 15,000 euros ($17,739) to 10% over time, the report said.

Stellantis, the European Commission, and an Indian government spokesperson did not immediately reply to MT Newswires' request for comment.

Shares of Stellantis dropped 1.9% in Paris

TotalEnergies said Monday it has agreed to extend the Waha oil concessions in Libya through Dec. 31, 2050.

The company said the deal was signed in the presence of Libya's Prime Minister Abdul Hamid Dbeiba.

TotalEnergies said the new agreement introduces updated fiscal terms that will support higher production from the concessions, which currently produce about 370,000 barrels of oil equivalent per day.

Shares of the French oil and gas company rose 1.6% in Paris.

Ryanair reported fiscal Q3 earnings Monday of 0.03 euros ($0.04) per diluted share, down from 0.14 euros a year earlier.

Two analysts surveyed by FactSet expected 0.26 euros.

Revenue for the quarter ended Dec. 31 was 3.21 billion euros, up from 2.96 billion euros a year earlier.

Analysts polled by FactSet expected 3.16 billion euros.

Shares of the Irish airline increased 3% in Dublin.

ArcelorMittal Kryvyi Rih is set to shut down a production unit in Ukraine in Q2, citing the impacts of EU environmental policy and high power costs in the country due to Russian military attacks on energy infrastructure, the steemaker said Monday.

The EU's Carbon Border Adjustment Mechanism, a carbon tax based on emissions applied on Jan. 1, effectively closes the export of a significant portion of Ukrainian metallurgical products, the company said.

The "extremely high" cost of electricity in the country due to Russian attacks has further worsened the economic feasibility of the unit, which produces billets for the enterprise's small-gauge and wire mills, the company said.

Shares of the steel and mining giant declined 0.8% in Paris.