Market Analysis

European stocks remained relatively stable on Monday as China's stimulus measures failed to boost investor confidence. Attention is now shifting toward the upcoming earnings season and the European Central Bank's policy meeting scheduled for later this week.

The STOXX 600 index, which represents the entire continent, inched up by 0.01% by 0720 GMT. While utilities and financial services sectors saw gains, these were offset by declines in the travel, leisure, and luxury sectors.

In Asia, stocks fluctuated between gains and losses following China's announcement on Saturday to "significantly increase" its debt to stimulate its struggling economy. However, investors remained uncertain about the exact scale of the stimulus package.

French luxury brands such as LVMH, Hermes, and Kering (EPA) experienced drops of between 1% and 3% due to their exposure to the Chinese market.

In the UK, betting companies Flutter and Entain saw their shares decline by 7.3% and 12.6%, respectively, following reports that the government is contemplating a proposal to double taxes on online casinos and bookmakers.

On a positive note, shares of British luxury brand Mulberry surged by 16% after the company announced it is consulting with advisers regarding Frasers' revised takeover offer of £111 million ($145.1 million).

Paraphrasing text from "Reuters" all rights reserved by the original author.