Investing.com - European stocks were mostly higher on Monday, as mounting expectations for additional easing measures by the European Central Bank continued to support equity markets, while markets awaited the release of business climate data from Germany later in the day
During European morning trade, the EURO STOXX 50 gained 0.48%, France’s CAC 40 rose 0.34%, while Germany’s DAX 30 added 0.14%.
On Friday, ECB President Mario Draghi warned that inflation expectations were declining to levels that were very low and said the ECB is ready to expand its stimulus program to boost inflation as quickly as possible.
The annual rate of inflation in the euro area was 0.4% in October, well below the ECB’s target of close to but just under 2%.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) rallied 1.57% and 2.08%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) jumped 1.89% and 1.83%.
Among peripheral lenders, Italy's Intesa Sanpaolo (MILAN:ISP) and Unicredit advanced 1.06% and 1.08% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander climbed 1.19% and 1.59%.
Elsewhere, Syngenta (SIX:SYNN) gained 0.87% after the Swiss agribusiness said it will cut jobs as it targets savings of $1 billion by 2018.
In London, FTSE 100 eased 0.10%, weighed by sharp losses in Petrofac, down 23.70% after the oilfield services provider warned that a "difficult period" due to a lower oil price environment is likely to reduce its net profits to $500 million next year, nearly 10% lower than previously estimated.
Mining stocks added to losses, as Bhp Billiton declined 1.59% and Rio Tinto tumbled 1.66%, while rivals Randgold Resources and Fresnillo (LONDON:FRES) plunged 2.11% and 2.19% respectively.
Meanwhile, Friends Life Group Ltd (LONDON:FLG) led gains on the index, with shares surging 7.23% after Aviva Plc (LONDON:AV), down 3.80%, said it is in talks to buy the insurance company.
In the financial sector, stocks were also on the upside. Shares in HSBC Holdings (LONDON:HSBA) gained 0.40% and Barclays advanced 0.87%, while Lloyds Banking (LONDON:LLOY) climbed 0.89% and the Royal Bank of Scotland (LONDON:RBS) rallied 1.19%.
In the U.S., equity markets pointed to a moderately higher open. The Dow Jones Industrial Average futures pointed to a 0.10% gain, S&P 500 futures signaled a 0.11% rise, while the Nasdaq 100 futures indicated a 0.12% increase.