Investing.com - European stocks opened moderately higher on Monday, as investors eyed a fresh batch of corporate earnings reports, as well as the Federal Reserve and Bank of Japan’s policy meetings scheduled later in the week.
During European morning trade, the EURO STOXX 50 added 0.11%, France’s CAC 40 edged up 0.13%, while Germany’s DAX 30 rose 0.10%.
Upbeat U.S. data released that week supported expectations for a rate hike by the U.S. central bank in the near future.
While most investors expect the Fed to leave its monetary policy unchanged this week, it could give hints on the timing of future rate hikes.
Market participants were also looking ahead to Friday’s policy statement by the BoJ, amid growing expectations for the announcement of additional stimulus measures.
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) declined 0.30% and 0.67%, while Germany’s Commerzbank (DE:CBKG) retreated 0.74%.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) lost 0.77% and 1.22% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) dropped 0.54% and 0.80%.
On the upside, Ericsson (ST:ERICAs) surged 5.61% after the network equipment maker said on Monday that Chief Executive Hans Vestberg stepped down.
In London, FTSE 100 dipped 0.01%, weighed by Aberdeen Asset Management PLC (LON:ADN), whose shares plummeted 2.15% even as the company said its assets under management rose in the second quarter.
Financial stocks were also broadly lower, as Lloyds Banking (LON:LLOY) fell 0.24% and the Royal Bank of Scotland (LON:RBS) lost 1.11%, while Barclays (LON:BARC) tumbled 1.12%. HSBC Holdings (LON:HSBA) was little changed, with shares inching up just 0.01%.
Meanwhile, shares in Ryanair Holdings PLC (LON:RYA) soared 6.24% after the budget airline company said net profit for the April to June quarter increased by 4%.
Ryanair also said the Brexit will lead to downward pressure on fares until the end of 2017 at least, but the carrier maintained its earnings target for the year.
In the mining sector, stocks were mixed. Shares in Glencore (LON:GLEN) eased 0.09% and Randgold (LON:RRS) ressources plummeted 2.43%, while Rio Tinto (LON:RIO) inched up 0.02% and BHP Billiton (LON:BLT) gained 0.64%.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.08% loss, S&P 500 futures a 0.13% fall, while the Nasdaq 100 futures indicated a 0.20% slide.