European stocks experienced slight gains on Monday as traders awaited the release of significant Eurozone inflation data and anticipated the Federal Reserve and Bank of England's upcoming policy discussions.
The preliminary figures indicated a slight downturn in Eurozone inflation, as rates fell to 2.6% in February from 2.8% in January. The pan-European STOXX 600 index edged higher, standing at 505.13 following a 0.3% drop last Friday.
In national news, Germany's DAX increased by 0.3%, France's CAC 40 experienced a minor increase, and the UK's FTSE 100 saw a 0.2% rise.
Signify NV stocks surged by 4% after a Barclays rating upgrade; on the contrary, Swiss tech company Logitech's stock took a significant 7% drop following the announcement of their CFO departure in May. The financial services company, Julius Baer Group, saw a 1.1% decline after the announcement of its financial goals for 2023-25.
Mining stocks were mostly lower, with Antofagasta's stocks falling nearly 2%. Marshalls, the British building materials group, saw a steep 6.5% drop after it reported decreased annual pre-tax profits and revenue amid challenging market conditions.
UK-based electronics retailer, Currys, experienced strong growth, with its stocks rallying 3.5% following an increase in their profit guidance.
British American Tobacco's stocks rose 1.3% shortly after initiating a $2 billion (£1.6 billion) share buyback program, following its sale of a portion of its stake in India's ITC.
British Land Company saw its stocks surge by 2.2% following its announcement of a new 50:50 partnership with Royal London Asset Management Property. This joint venture aims to upgrade 1 Triton Square into a state-of-the-art science and innovation facility at Regent's Place.
Lastly, the German reinsurance firm, Hannover Re, experienced a minimal increase after it reported increased full-year net income and an optimistic forecast for FY24.
