European stocks were steady at the start of trading on Monday after Chinese stimulus plans failed to inspire confidence among investors who focused on the corporate earnings season and the European Central Bank's monetary policy meeting later this week.
The pan-European STOXX 600 index was up 0.01 percent by 0720 GMT as gains in utilities and financial services sectors offset declines in travel and leisure stocks as well as luxury goods companies.
Asian stocks swung between gains and losses after China on Saturday pledged a massive fiscal stimulus to revive its struggling economy but left investors guessing about the total size of the stimulus package.
Shares of LVMH, Hermes, Kering and other French luxury goods companies affected by the situation in China fell between 1 and 3 percent, according to Reuters data.
Shares in British betting companies Flutter and Enteen fell 7.3 percent and 12.6 percent respectively after a media report that the British government is considering doubling taxes on casinos and online bookmakers.
Shares in British luxury brand Mulberry jumped 16 percent after it said it was working with advisers to evaluate a £111 million ($145.1 million) takeover bid from Frasers.
