European stocks open higher on rate outlook

European stocks opened higher on Monday, as investors digested U.S. inflation data and looked ahead to another busy week of earnings and central bank meetings.

According to CNBC, the Stoxx 600 index rose 0.39% in early trading, with almost all sectors and all major bourses across the region trading in the green. Banks and insurance stocks rose more than 0.8%, while food and beverages were the only decliners, down 0.1%.

The European benchmark index closed higher on Friday as global stock selling eased and investors reacted to a more-than-expected U.S. personal consumption expenditure (PCE) rate print.

The string of earnings releases continues this week, with Heineken, Philips, Pearson and Associated British Foods reporting results during the session.

Investors are also looking ahead to the latest policy meetings from the Federal Reserve and the Bank of England for clues on the path of interest rates.

Asia-Pacific markets rose on Monday, with Japan’s Nikkei 225 leading gains in the region as U.S. inflation data raised hopes for a rate cut. Meanwhile, U.S. stock futures also rose ahead of a slew of corporate earnings in the United States.