Investing.com - European stocks were little changed on Monday, as investors remained cautious ahead of a series of meetings between euro zone leaders amid fresh hopes for progress in tackling the region’s debt crisis.
During European morning trade, the EURO STOXX 50 edged up 0.10%, France’s CAC 40 inched 0.04% higher, while Germany’s DAX 30 eased up 0.01%.
Luxemburg Prime Minister Jean-Claude Juncker, who also heads the group of euro zone finance ministers, is expected in Athens on Wednesday to discuss Greek Prime Minister Antonis Samaras’ request for a two-year extension for the country’s fiscal adjustment program.
Samaras is expected in Berlin and Paris at the end of the week, after French President Francois Hollande and German Chancellor Angela Merkel meet in the German capital on Thursday.
Investor confidence briefly strengthened last week after German Chancellor Angela Merkel backed European Central Bank President Mario Draghi's vow to do all that is necessary to defend euro.
Her comments increased expectations the ECB would buy Spanish and Italian bonds next month to lower the two countries' borrowing costs.
Meanwhile, German magazine Spiegel reported on Sunday that the ECB may set limits on yields of euro-area sovereign debt by pledging unlimited bond purchases, at its September meeting.
Gains in the financial sector were led by Italian lenders, with Intesa Sanpaolo surging 2.21% and Uncredit climbing 1.58%.
In France, shares in Societe Generale rose 0.32%, while BNP Paribas dropped 0.60%.
German lenders were also mixed, as Commerzbank advanced 0.64%, while Deutsche Bank tumbled 1.98% amid reports it is among four European banks being investigated by U.S. regulators for alleged money-laundering violations.
Elsewhere, Heineken saw shares rally 1.62% after it raised its offer for Asia Pacific Breweries.
In London, FTSE 100 dipped 0.03%, after industry data showed that house prices in the U.K. declined by 2.4% in August.
Eurasian Natural Resources plummeted 2.22%, still weighed by last week’s announcement that the mining company’s first-half profit plunged 59%, as revenues were hurt by a decline in commodity prices and a challenging economic environment.
Rival firm Rio Tinto also added to losses, with shares dropping 0.50%, while copper producers Xstrata and Kazakhmys plummeted 1.07% and 0.93% respectively.
On the upside, alcoholic beverages company Diageo gained 0.56% after the Sunday Times reported it is close to a deal to buy Jose Cuervo for USD3 billion.
In the financial sector, stocks were mixed. Shares in Lloyds Banking soared 2.95% and the Royal Bank of Scotland rallied 0.97%, while Barclays advanced 0.64% and HSBC Holdings retreated 0.54%.
Separately, the Sunday Telegraph reported over the weekend that HSBC Holdings is willing to "fight to the death" to prevent U.K. regulators from attempting to force it to stop paying its dividend in order to preserve capital.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures were flat, S&P 500 futures signaled a 0.03% gain, while the Nasdaq 100 futures indicated a 0.06% increase.
Later in the day, France was to hold a government bond auction.
During European morning trade, the EURO STOXX 50 edged up 0.10%, France’s CAC 40 inched 0.04% higher, while Germany’s DAX 30 eased up 0.01%.
Luxemburg Prime Minister Jean-Claude Juncker, who also heads the group of euro zone finance ministers, is expected in Athens on Wednesday to discuss Greek Prime Minister Antonis Samaras’ request for a two-year extension for the country’s fiscal adjustment program.
Samaras is expected in Berlin and Paris at the end of the week, after French President Francois Hollande and German Chancellor Angela Merkel meet in the German capital on Thursday.
Investor confidence briefly strengthened last week after German Chancellor Angela Merkel backed European Central Bank President Mario Draghi's vow to do all that is necessary to defend euro.
Her comments increased expectations the ECB would buy Spanish and Italian bonds next month to lower the two countries' borrowing costs.
Meanwhile, German magazine Spiegel reported on Sunday that the ECB may set limits on yields of euro-area sovereign debt by pledging unlimited bond purchases, at its September meeting.
Gains in the financial sector were led by Italian lenders, with Intesa Sanpaolo surging 2.21% and Uncredit climbing 1.58%.
In France, shares in Societe Generale rose 0.32%, while BNP Paribas dropped 0.60%.
German lenders were also mixed, as Commerzbank advanced 0.64%, while Deutsche Bank tumbled 1.98% amid reports it is among four European banks being investigated by U.S. regulators for alleged money-laundering violations.
Elsewhere, Heineken saw shares rally 1.62% after it raised its offer for Asia Pacific Breweries.
In London, FTSE 100 dipped 0.03%, after industry data showed that house prices in the U.K. declined by 2.4% in August.
Eurasian Natural Resources plummeted 2.22%, still weighed by last week’s announcement that the mining company’s first-half profit plunged 59%, as revenues were hurt by a decline in commodity prices and a challenging economic environment.
Rival firm Rio Tinto also added to losses, with shares dropping 0.50%, while copper producers Xstrata and Kazakhmys plummeted 1.07% and 0.93% respectively.
On the upside, alcoholic beverages company Diageo gained 0.56% after the Sunday Times reported it is close to a deal to buy Jose Cuervo for USD3 billion.
In the financial sector, stocks were mixed. Shares in Lloyds Banking soared 2.95% and the Royal Bank of Scotland rallied 0.97%, while Barclays advanced 0.64% and HSBC Holdings retreated 0.54%.
Separately, the Sunday Telegraph reported over the weekend that HSBC Holdings is willing to "fight to the death" to prevent U.K. regulators from attempting to force it to stop paying its dividend in order to preserve capital.
In the U.S., equity markets pointed to a steady open. The Dow Jones Industrial Average futures were flat, S&P 500 futures signaled a 0.03% gain, while the Nasdaq 100 futures indicated a 0.06% increase.
Later in the day, France was to hold a government bond auction.