Calm Prevails in European Stocks Ahead of U.S. Inflation Data

Calm prevailed in European trading on Monday as investors cautiously awaited key U.S. inflation data set to be released later this week for more indications on the monetary policy direction of the Federal Reserve. However, the performance of healthcare and energy stocks was favorable. The European "Stoxx 600" index stabilized at 465.44 points by 07:07 GMT, following a decline last week when major central banks raised interest rates and renewed concerns emerged regarding the U.S. banking sector. Shares of pharmaceutical company Novo Nordisk rose 2.3%, and energy stocks increased by 0.6%, bouncing back after being among the biggest losers last week. Stock markets in London were closed due to a holiday following King Charles' coronation last Saturday.