European Stocks Close Higher As Investors Asses Economic Data, Recent Earnings

European markets closed mostly higher on Monday, led by gains in the banking and automobile sectors.

Investors assessed U.S.-China trade discussions, recent earnings updates, and digested the latest batch of regional economic data, in addition to awaiting the Bank of England's monetary policy announcement due this week.

The pan European Stoxx 600 climbed 0.46%. The U.K.'s FTSE 100 gained 0.16% and Germany's DAX closed up by 1.1%, while France's CAC 40 edged down by 0.14%. Switzerland's SMI settled 0.01% up.

Among other markets in Europe, Czech Republic, Finland, Greece, Ireland, Norway, Poland, Portugal, Russia and Turkiye closed higher.

Iceland and Sweden ended weak, while Austria, Belgium, Denmark, Netherlands and Spain closed little changed.

In the UK market, Airtel Africa surged nearly 6%, adding to recent gains. Games Workshop climbed 3.1%, British American Tobacco gained 2.7% and IAG moved up 2.3%.

M&G, The Sage Group, Prudential, Schroders, Legal & General, Diageo, Standard Chartered, Intercontinental Hotels, Easyjet, Imperial Brands, Haleon and Halma gained 1 to 2%.

Oil major BP is gaining about 1.2% after it agreed to divest stakes in U.S. shale assets to Sixth Street for $1.5 billion.

Vodafone Group, WPP, JD Sports Fashion, Coca-Cola Europacific Partners, Anglo American Plc, Marks & Spencer, Rio Tinto, Croda International, Convatec Group, Glencore and Beazley closed down by 2 to 5.2%.

In the German market, Rheinmetall, Siemens Energy, Volkswagen, Commerzbank, Mercedes-Benz, SAP, Continental, Deutsche Bank, Porsche Automobil and Allianz gained 1.3 to 4%.

Zalando, Qiagen, Vonovia, Bayer, E.ON, Fresenius, Fresenius Medical Care, Daimler Truck Holding and Merck declined sharply.