The pan-European STOXX 600 rose 0.4%, although Wall Street did not gain after disappointing earnings reports.
The European index came under pressure last week when the European Central Bank, unlike the Federal Reserve, indicated that further interest rate hikes are still in play as inflation in the Euro-20 remains high.
The focus is now on the US consumer price index for April, due out on Wednesday, looking for clues as to whether the US central bank will soon cut interest rates in the biggest economy of the world. The Federal Reserve raised interest rates last week in what could be the latest move in its current monetary tightening campaign.
The banking and healthcare sectors rose about 0.8% each, leading the sectors’ gains in Europe, while real estate stocks fell 0.7%.
On the Frankfurt Stock Exchange, Germany’s DAX index fell 0.1% after data showed the country’s industrial production fell more than expected in March, partly due to weak performance in the auto sector.
London’s stock markets are closed for a public holiday following the coronation of King Charles on Saturday.
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