FX.co ★ European Stocks Cautious

European stocks started the week on a cautious note, with the STOXX 50 hovering around the flatline and the STOXX 600 slipping 0.2% after a weak close on Friday. Investors are positioning for a busy few days ahead, highlighted by the US midterm elections.

Oil prices continued to decline amid reports that the US and Iran are exploring diplomatic avenues to resolve the conflict. In corporate moves, healthcare heavyweights Novartis (-1.8%) and AstraZeneca (-1.4%) traded lower, while SAP shed 0.8%.

By contrast, the technology sector outperformed: ASML Holding gained 1.2% and Infineon rose 1.4%. Banks also advanced, with Deutsche Bank up 1.4%.