Stock exchange traders watch their monitors in the trading room of the Frankfurt Stock Exchange while the information “16,000 points for the first time” is displayed in the background.
- The pan-European Stoxx 600 provisionally closed up by around 0.3%, with retail and utilities stocks climbing 0.8% while the basic resources sector sank 1.2%.
- Global markets in recent weeks have been guided by corporate earnings reports along with inflation and labor market data from major economies.
LONDON — European markets closed slightly higher on Monday as investors monitored the steady drip of economic data and corporate earnings from around the world.
The pan-European Stoxx 600 provisionally closed up by around 0.3%, with retail and utilities stocks climbing 0.8% while the basic resources sector sank 1.2%.
Global markets in recent weeks have been guided by corporate earnings reports along with inflation and labor market data from major economies, which will have a significant bearing on the policy path for central banks.
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Shares in Asia-Pacific were mixed overnight, with mainland Chinese markets lagging despite Chinese economic data coming in considerably better than expected.
Stateside, U.S. stocks rose Monday, kicking the week off on a positive note after the S&P 500 index broke a five-week winning streak on Friday.
Airbus over the weekend trimmed its 20-year commercial airplane demand forecast by 0.5% compared to pre-pandemic projections, while lifting its outlook for freight carriers.
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On the agenda later in the week are flash third-quarter euro zone GDP estimates on Tuesday morning and the annual European Business Summit in Brussels.
In terms of individual share price movement in Europe, Philips dropped 10.5% after the Dutch medical equipment maker said on Sunday that it is speaking to U.S. regulators following a recent inspection at one of its facilities.
Philips is in the midst of a recall of ventilators owing to the use of parts alleged to contain a potentially hazardous foam.
At the top of the Stoxx 600, Czech cybersecurity company Avast gained 7.1% after clearing a key regulatory hurdle in its sale to U.S. rival NortonLifeLock.
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— CNBC's Ryan Browne contributed to this report.
