European Stocks Broadly Higher In Cautious Trade

(RTTNews) - European stocks are broadly higher on Monday even as the mood remains a bit cautious in some of the markets in the region with investors awaiting more economic data and earnings updates for direction.

The UK market is outperforming with energy stocks moving up on higher oil prices. Bank stocks are among the other notabl gainers. The U.K.'s FTSE is up nearly 1%.

Germany's DAX is up 0.13%, France's CAC 40 is gaining 0.23% and Switzerland's SMI is up 0.25%. The pan European Stoxx 600 is gaining 0.36%.

In the UK market, Carnival is rising nearly 5%. TUI, BHP, Antofagasta, Royal Mail, Barclays, BP and Anglo American Plc are up 3 to 4.1%. WPP is up nearly 3%.

Natwest Group, HSBC Holdings, Prudential, ICP, Rio Tinto, Glencore, IAG, ITV, Informa, DCC, Sainsbury (J) and Phoenix Holdings are gaining 2 to 2.8%.

IHG is down nearly 2% following the announcement that CEO Keith Barr will step down. Compass and Hargreaves Lansdown are lower by 1.4% and 1%, respectively.

In the German market, BMW is rallying 1.7% and Commerzbank is up 1.5%, while Brenntag, Hannover Rueck, Siemens Energy, SAP and Daimler are up nearly 1%.

Munich RE is declining 2.6%. Vonovia and Porsche are down 2.2% and 2.1%, respectively. Continental, Merck, Adidas, BASF, Zalando and Bayer are also weak.

In Paris, ArcelorMittal is rising 3.2% and Alstom is up nearly 3%. Bouygues, WorldLine, LVMH and Credit Agricole are also up with impressive gains.

AXA is drifting down 4.6%. Teleperformance is down 1.7% and Sanofi is lower by nearly 1%.

On the economic front, Germany's industrial production declined more than expected in March, falling 3.4% from February, data from Destatis showed. In February, production rose 2.1%. Economists had expected a 1.3% drop in production in March.

On a yearly basis, industrial production growth improved to 1.8% from 0.7% in the previous month. In the first quarter, industrial production increased 2.5% from the previous quarter.