European stocks had a weak opening on Monday, with the STOXX 600 barely moving as it remained at its lowest level in more than two weeks. Investors remained cautious, with their attention focused on the European Central Bank’s upcoming meeting scheduled for Thursday.
Market participants are particularly focused on the European Central Bank’s monetary policy stance amid widespread concern about when interest rate cuts will begin. Although the central bank is expected to maintain its current rates, investors are keenly awaiting any indications that a rate cut, possibly by 25 basis points, could be announced in June.
In Germany, the DAX index showed a slight rise over the broader European market, thanks to a rise in the industrial sector. This rise came after data showed that industrial production rose more than expected in February, with the construction sector playing a significant role in this increase.
The STOXX boosted Zalando, which rose 4.3%. The jump came after Citigroup upgraded the German online fashion retailer to buy from neutral, making it a top market mover on Monday.
