European stocks closed higher on Monday, led by gains in technology sector. Shares from automobile, banking and industrials sectors gained as well.
China’s stimulus to ease market unrest and drive economic growth, helped underpin sentiment. Chinese authorities announced a slew of measures over the weekend to bolster the country’s equity markets and fuel an increase in spending. The measures included a 50% reduction in stamp duty on stock trades and a slower pace of initial public offerings.
China’s securities regulator also approved the launch of 37 retail funds.
Investors looked ahead to a slew of crucial earnings and economic data from the U.S. and Europe.
