European stocks were flat to slightly higher on Monday as investors awaited a pivotal meeting between U.S. President Joe Biden and House Speaker Kevin McCarthy on the debt ceiling and monitored political developments in Greece.<\/p>\n
Greek Prime Minister Kyriakos Mitsotakis won the national election but failed to reach the majority.<\/p>\n
U.S. Treasury Secretary, Janet Yellen, has reiterated that the June 1 deadline for raising the federal debt ceiling is non-negotiable.<\/p>\n
As negotiations continue, some lawmakers remain optimistic that a deal will be reached before the deadline.<\/p>\n
The pan European STOXX 600 was up 0.2 percent at 469.71 after gaining 0.7 percent to reach a one-year high on Friday. <\/p>\n
The German DAX and France’s CAC 40 were marginally lower, while the U.K.’s FTSE 100 was up 0.2 percent, led by banks. <\/p>\n
Electrolux fell about 1 percent after announcing its collaboration with global freight booking platform Freightos.<\/p>\n
Tech stocks traded mixed after China banned some sales of Micron Technology products, citing significant network security risks.<\/p>\n
Novo Nordisk A\/S gained 2.1 percent after research showed taking its new obesity drug may help reduce the risk of heart disease as well as boost weight loss.<\/p>\n
Ryanair Holdings rallied 2.2 percent after it swung to profit in FY23.<\/p>\n
Mining stocks fell in London, with Antofagasta and Glencore falling around half a percent on China recovery concerns.<\/p>\n
Oil & gas stocks such as BP Plc and Shell were also moving lower while lender HSBC Holdings added 1.4 percent, Standard Chartered jumped nearly 3 percent and Lloyds Banking Group rose half a percent.<\/p>\n
NatWest rose 1.2 percent after it agreed to buy 1.3 billion pounds ($1.6 billion) worth of its shares back from the government.<\/p>\n