European stocks rose on Monday, tracking the surge in Wall Street, where the S&P 500 index closed above the 5,000-point mark for the first time. Investors are focused on corporate earnings and economic data to draw expectations regarding the European Central Bank's interest rate decisions. The Stoxx 600 index increased by 0.3% by 08:10 GMT, with all sectors rising except for energy stocks, which fell due to declining oil prices. Italian stocks rose by 0.6%, outperforming their regional counterparts in early trading.
This week is packed with economic data, including GDP growth for the Eurozone in the fourth quarter, inflation rates in Spain and other regions, and the ZEW Economic Sentiment Index for expectations regarding the economy in the area. Meanwhile, investors across the Atlantic are awaiting the release of January's Consumer Price Index data in the United States on Tuesday for clues regarding a potential interest rate cut by the Federal Reserve.
Shares of Tod's surged 17.4% after L Catterton, a private equity firm, announced it would offer to buy a 36% stake in the luxury shoe maker for €43 per share. Novo Nordisk's shares increased by 1.2% after a report stated that its stakeholder, Novo Holdings, plans to invest up to $7 billion annually by 2030.
