European Stocks Close Broadly Higher

(RTTNews) - European stocks closed higher on Monday with investors looking ahead to central bank meetings for clues on interest rates.

The Federal Reserve's monetary policy meeting is scheduled from 13th June to 14th. The U.S. central bank is expected to pause its recent interest rate increases. The Fed's accompanying statement as well as U.S. CPI data will be key as investors look for clues about the outlook for interest rates.

The European Central Bank is expected to hike rates by 25 basis points on Thursday. The People's Bank of China and the Bank of Japan are also scheduled to announce their monetary policies this week.

The pan European Stoxx 600 ended 0.16% up. The U.K.'s FTSE 100 edged up 0.11%, Germany's DAX climbed 0.93% and France's CAC 40 surged 0.52%. Switzerland's SMI gained 0.42%.

Among other markets in Europe, Austria, Czech Republic, Ireland, Portugal and Spain ended higher. Greece and Netherlands edgd up marginally.

Iceland, Norway, Poland and Turkiye closed weak, while Belgium, Denmark, Finland, Russia and Sweden ended flat.

In the UK market, Ocado Group surged 3.62% on rating upgrade. Croda International and Auto Trader Group climbed 3.2% and 3.1%, respectively. Experian, Aritel Africa, RS Group and IAG gained 2 to 2.8%.

CRH, IHG, Whitbread, Admiral Group, Relx, Smiths Group, Sainsbury (J), WPP and AstraZeneca also ended notably higher.

Fresnillo ended 4.2% down. Vodafone Group, Segro, BT Group, Anglo American Plc, Unite Group, BP and Rio Tinto declined 1 to 2.7%.

In the German market, Adidas surged more than 5.5% after Bernstein raised its rating on the stock to "outperform". Puma, Sartorius, Infineon, Volkswagen, Covestro, Daimler Truck Holding and Brenntag climbed 2 to 2.8%.

BMW, MTU Aero Engines, Siemens, Zalando, HeidelbergCement, Mercedes-Benz, Continental and Beiersdorf gained 1 to 2%. Fresenius ended 1.51% down.

In Paris, Teleperformance rallied nearly 4%. Capgemini, Hermes International, STMicroElectronics, Renault and Publicis Groupe ended higher by 2.3 to 3.2%.

LVMH, Legrand, Stellantis, Dassault Systemes, Safran, Kering and Veolia also posted strong gains.