European stocks experienced a positive start to the week, with notable gains in banking and technology sectors as investors anticipated upcoming crucial economic data from the U.S. and Europe. The pan-European STOXX 600 index increased by 0.1 percent to reach 508.77, following a significant rise in the tech-heavy Nasdaq Composite, which climbed 1.8 percent, and the S&P 500, which advanced 1.3 percent, ending a five-day losing streak on Friday.
Germany's DAX index saw a modest increase of 0.2 percent, while France's CAC 40 gained 0.6 percent, ahead of the release of Germany's December inflation figures and finalized data on December services activity from major European economies, scheduled for later in the day.
In contrast, the UK's resource-rich FTSE 100 index dipped by 0.2 percent following a decline in iron ore prices, which dropped below USD 100 ($160.73) per ton on Friday.
The euro made slight gains against the dollar after France's Finance Minister, Eric Lombard, stated that the 2025 budget would target reducing the deficit to between 5 percent and 5.5 percent of the economic output.
British company Spectris, specializing in instrumentation and controls, saw its shares rise by nearly 3 percent after HSBC upgraded its rating from "hold" to "buy."
Infrastructure company Balfour Beatty experienced a modest increase in its share value after announcing the appointment of its corporate brokers to oversee an initial phase of its 2025 share buyback program.
Meanwhile, Diversified Energy Company experienced a 1.6 percent drop in its stock price following its announcement of acquiring several assets in the Appalachian Basin across Virginia, West Virginia, and Alabama in the United States.
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