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European Stocks Lack Direction

Both the STOXX 50 and the STOXX 600 hovered around the flatline on Monday, following two consecutive sessions of losses, as traders awaited fresh market catalysts. Nvidia is set to report quarterly results this week, while in the US, a series of economic data releases begins today after the end of the government shutdown. Siemens Energy gained 3.3%, ranking among the top performers. Airbus rose 1% after reports that it is poised to secure the majority of an aircraft order under negotiation with Flydubai, and as Air China Cargo placed an order for six A350F freighters. SAAB surged more than 6% after signing a €3.1 billion ($3.62 billion) contract with the Colombian government to deliver 17 Gripen fighter jets over the next five years. On the downside, Siemens (-0.8%), LVMH (-0.6%), and Bayer (-0.7%) traded in the red, while Adyen NV slid 2%, making it the worst performer on the STOXX 600.

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