European markets edged higher on Monday as investors weighed geopolitical turmoil as a new trading week began.
The pan-European Stoxx 600 index rose 0.08% at 10:13 a.m. London time, giving up most of its earlier gains as major regional exchanges and sectors were mixed.
Elsewhere, Hong Kong stocks rose nearly 3% in the final hour as China’s leaders vowed to adopt “more proactive” fiscal measures and “moderately” loose monetary policy next year, a move that could boost domestic consumption.
The news also lifted European luxury goods stocks higher, with Gucci owner dry At one point it rose 4%.
Asia-Pacific markets were mixed overnight. South Korea’s Kospi fell more than 2% after President Yoon Suk Yeol survived a weekend impeachment vote.
Traders will also be assessing geopolitical turmoil in the Middle East after Syrian President Bashar al-Assad was ousted over the weekend. Western leaders are wary of rebels overthrowing the Assad dynasty, fearing a power vacuum and greater instability in the region.
In the United States, stock futures edged lower on Monday as the S&P 500 and Nasdaq posted gains for a third straight week ahead of key inflation data on Wednesday.
November’s consumer price index, released on Wednesday, is expected to show a slight increase in price pressures. Economists polled by Dow Jones expected monthly and annual growth rates of 0.3% and 2.7% respectively. This would be an increase of 0.2% and 2.6% respectively from the previous month.
—CNBC’s Sarah Min contributed to this market summary
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