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European stocks rose slightly to start the week as investors look ahead to the June meeting of the US Federal Reserve.
The pan-European Stoxx 600 was up 0.1% against midday deals, wiping some of its past gains after closing at a record high last week. Oil and gas stocks rose 1.3% to make a profit, while cars fell 0.9%.
The Federal Open Market Committee meets Tuesday and Wednesday. The Fed is expected to leave monetary policy unchanged and again downplay the tapering of its stimulus program. However, markets will be on the lookout for hints as to whether the central bank is beginning to worry that the current spike in inflation may not be transient.
Shares in Asia-Pacific were mixed on Monday, while markets in mainland China, Hong Kong and Australia were closed for holidays.
In the United States, US stock futures were also mixed in premarket trading after the S&P 500 closed at a record high last week.
Back in Europe, British Prime Minister Boris Johnson is expected to announce an extension of Covid-19 restrictions later on Monday as the country battles a rise in cases of the delta variant first discovered in India.
Bitcoin surged Monday after Tesla CEO Elon Musk suggested that the electric vehicle maker could again accept transactions in the cryptocurrency in the future. Bitcoin traded at $39,163 in Europe on Monday afternoon.
On the data front, industrial production in the eurozone was stronger than expected in April, Eurostat figures showed on Monday, with bloc-wide production rising 0.8% month-on-month as economic activity doubled. projections.
In terms of individual stock price action, Germany’s TeamViewer added 8% to the lead of the Stoxx 600 after announcing a new partnership with SAP, while Philips fell 4.2% after recalling some of its fan machines in the US.
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