European stocks were mostly higher Monday as investors monitored corporate earnings and developments in U.S.-China trade talks.
The pan-European Euro Stoxx 600 index was up 0.1%, with most sectors and major bourses in positive territory.
Looking at individual stocks, Norsk Hydro shares rose by nearly 4% after the Norwegian aluminum maker and Brazil’s public prosecutor asked a federal court to lift a production embargo in the country. Hydro’s Alunorte alumina refinery has been operating at half capacity since a spill last year that led authorities to restrict output.
Meanwhile, French advertising group Publicis‘ shares rose after news of a $4.4 billion takeover of marketing and data company Epsilon. The firm also released first-quarter results, reporting a rise in revenue and confirming its outlook for 2019. The stock was up almost 2%.
Market focus is largely attuned to corporate earnings, with several companies set to release their first-quarter results this week. Goldman Sachs posted a Q1 profit beat on Monday, but revenue fell short of expectations on the back of tougher market conditions. Citi, meanwhile, also reported mixed earnings.
Elsewhere, investors continue to monitor developments in the U.S.-China trade talks. Over the weekend, U.S. Treasury Secretary Steve Mnuchin said he was hopeful the talks would soon come to a close.
He said Saturday that a U.S.-China trade deal would go “way beyond” previous agreements between the two nations, and that the two sides were “close to the final round” of negotiations, Reuters reported.