Stock indices traded higher on a weaker euro. The euro declined against the U.S. dollar in the absence of any major economic reports from the Eurozone.
The euro rose against the U.S. dollar on Friday after weaker-than-expected U.S. economic data. The U.S. industrial production dropped 0.3% in April, missing expectations for a 0.1% increase, after a 0.3% decline in March. Capacity utilisation rate fell to 78.2% in April from 78.6% in March. The Thomson Reuters/University of Michigan preliminary consumer sentiment index dropped to 88.6 in May from a final reading of 95.9 in April, missing expectations for an increase to 96.0. It was the lowest level since October 2014.
The European Central Bank Executive Board Member Yves Mersch said on Monday that the central bank should continue its quantitative easing until inflation is on track to the central bank's 2% target.
Markets were also supported by gains in the automobile and mining sector.
Name Price Change Change %
FTSE 100 6,985.26 24.77 0.36 %
DAX 11,551.64 104.61 0.91 %
CAC 40 5,006.31 12.49 0.25 %