By Sukriti Gupta
(Reuters) -European shares were little changed on Monday, as investors awaited details on the U.S.-China trade negotiations, while some key corporate earnings and the U.S. Federal Reserve’s policy meeting later this week were also in focus.
The pan-European STOXX 600 index was up 0.1%, as of 0829 GMT. The benchmark index rose above its April 2 close for the first time on Friday, since U.S. President Donald Trump announced his plans for reciprocal tariffs on trade partners.
Other regional indexes were also trading in positive territory, barring France which fell 0.4%. London markets were shut for a bank holiday.
Energy shares led sector losses with a 0.9% fall, tracking weaker oil prices.
Dutch-listed shares of Shell fell 1.9%. A report said the oil major is working with advisers to evaluate a potential acquisition of rival BP.
In a television interview aired on Sunday, Trump said he would not attempt to remove Fed Chair Jerome Powell but repeated calls for lower interest rates.
The Fed is widely expected to leave rates steady on Wednesday following a solid March payrolls report.
Trump on Sunday said the U.S. was meeting with many countries, including China, on trade deals, and his main priority with China was to secure a fair trade deal.
Optimism around a potential de-escalation of trade tensions between the U.S. and China has boosted markets in recent days.
“The European markets opened the week on an undecided note. That is somehow a correction of the rally that we saw last week,” said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank.
“Part of the indecision comes from the fact that the latest inflation numbers in the eurozone have been higher than expected.”
Ozkardeskaya added that there is hope for the upcoming trade deals and that is a positive for market sentiment and risk appetite.
Novo Nordisk rose 1.9% after the Danish drugmaker said the U.S. Food and Drug Administration has accepted its marketing application for an oral version of its weight-loss drug Wegovy and will decide in the fourth quarter.
Erste Group jumped 6.7% after the Austrian lender said it has acquired 49% of Polish-based Santander Bank Polska and 50% of Santander TFI, following an agreement with Spanish bank Banco Santander SA.
Santander Bank Polska’s shares fell 4.7%.
(Reporting by Sukriti Gupta in Bengaluru; Editing by Eileen Soreng)
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