EUROPEAN stocks have finished mixed as traders balanced political progress in Italy with disappointing earnings and housing data from the US. On the the foreign exchange markets the US dollar dominated sentiment as it spiked close to the 100 yen mark after the G20 cautiously endorsed the Bank of Japan's huge stimulus measures despite wariness from emerging countries. At close on Monday, London's FTSE 100 index of leading companies was 0.09 per cent lower at 6,280.62 points, in Paris the CAC 40 was flat at 3652.13 points, while in Frankfurt the DAX 30 gained 0.24 per cent to 7478.11 points. The best performing European market was Italy's FTSE MIB index, which jumped 1.57 per cent to 16,007.10 points on investor relief after the surprise re-election of President Giorgio Napolitano over the weekend. At his swearing-in ceremony on Monday Napolitano urged Italy's political parties to form a new government "without delay" and said their failure to implement key economic and institutional reforms was "unforgiveable." US stocks were also mixed with off the mark earnings from heavy industrial machinery giant Caterpillar weighing on sentiment. In midday trading, the Dow Jones Industrial Average fell 0.33 per cent, the broad-based S&P 500 added 0.07 per cent, and the tech-rich Nasdaq Composite Index climbed 0.57 per cent. Caterpillar said net income came in at $US880 million ($A860 million), down 45.4 per cent from the year-ago period, citing a weakening outlook in its mining business. The National Association of Realtors meanwhile reported that US existing-home sales declined in March by 0.6 per cent from February. In foreign exchange activity, the US dollar spiked to 99.90 yen in Asian trading hours, reaching the highest level since April 11. It later stood at 99.32 yen in London deals, up from 99.52 yen late in New York on Friday. The US dollar has not breached the key 100-yen barrier since April 2009. "Continued depreciation of the yen is still driving sentiment in equity markets across Asia, with statements in the G20 meeting being the latest driver to help propel dollar/yen back toward that 100 level," said GFT Markets analyst Fawad Razaqzada. Meanwhile, the euro edged down to $US1.3048 from $US1.3049 late on Friday. On the London Bullion Market, gold climbed to $US1424.50 an ounce from $US1405.50. Asian markets mostly climbed on Monday, with Tokyo surging in value on the back of the falling yen, which boosts exporters. Tokyo jumped 1.89 per cent, while Seoul was up 1.03 per cent, Sydney rose 0.70 per cent and Hong Kong added 0.14 per cent. Chinese stocks dipped 0.11 per cent, however, as insurers suffered a sell-off after an earthquake struck Sichuan province, leaving more than 200 dead or missing and destroying villages.