Investing.com - European stocks were higher on Monday, as investors were awaiting the release of highly anticipated euro zone inflation data later in the trading session, while concerns over events in Crimea persisted.
During European morning trade, the EURO STOXX 50 jumped 0.94%, France’s CAC 40 advanced 0.71%, while Germany’s DAX 30 gained 0.75%.
On Thursday, European Central Bank President Mario Draghi said the strong euro was putting downward pressure on euro zone inflation.
Draghi said the strength of the euro was becoming increasingly relevant to the bank’s assessment of price stability, indicating growing concerns that the appreciation of the euro could undermine the fragile recovery in the euro area.
Elsewhere, over 90% of Crimean voters on Sunday chose to break with Ukraine and join Russia. U.S. President Barack Obama said Washington rejected the results of the referendum and warned that the U.S. was ready to impose sanctions on Moscow.
Financial stocks were broadly higher, as French lenders BNP Paribas and Societe Generale jumped 1.19% and 0.97%, while Germany's Deutsche Bank advanced 0.60%.
Societe Generale's stock was supported by news the Paris-based lender agreed to sell its Asian private bank to DBS Group Holdings Ltd.
Among peripheral lenders, Italy's Intesa Sanpaolo and Unicredit gained 0.42% and 2.56% respectively, while Spanish banks BBVA and Banco Santander rallied 0.99% and 1.16% respectively.
Elsewhere, RWE surged 2.73% after L1 Energy agreed to buy the utility’s Dea business for €5.1 billion.
In London, FTSE 100 rose 0.40%, led by Persimmon shares, up 6.25%, after the U.K. government saifd its Help to Buy scheme will be extended to 2020.
Mining stocks were also on the upside, as Glencore Xstrata jumped 1.61% and Rio Tinto rallied 1.27%, while BHP Billiton and Vedanta Resources advanced 1.20% and 0.72% respectively.
Vodafone added to gains, climbing 0.90%, after the wireless carrier agreed to buy Spanish cable operator Grupo Corporativo Ono SA for €7.2 billion, including debt, to boost TV and broadband offerings.
In the financial sector, stocks were mostly higher. Barclays gained 0.59% and Lloyds Banking jumped 0.92%, while the Royal Bank of Scotland advanced 1.14%. HSBC Holdings underperformed however, edging down 0.08%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.62% climb, S&P 500 futures signaled a 0.62% increase, while the Nasdaq 100 futures indicated a 0.64% gain.
Later in the day, the U.S. was to publish data on manufacturing activity in the Empire State, as well as reports on industrial production and long term securities transactions.