European Shares Rise Ahead of Major Economic Reveals

European shares increased slightly as investors anticipate significant economic data and earnings from prominent U.S. companies. STOXX 600 rose by 0.2%, while the energy sector dipped following a decline in oil prices. Key speeches and data from major European economies are expected this week, alongside U.S. tech giants' earnings reports.

European shares experienced a modest rise on Monday, ahead of a week bustling with crucial economic data and earnings from several major U.S. corporations.

As of 0815 GMT, the pan-European STOXX 600 index inched up 0.2% to 519.80 points, despite recording its first weekly decline in three weeks on Friday. The energy sector, notably impacted by a 5% drop in oil prices after Iran minimized Israeli airstrikes, dragged on the benchmark by 1.7%.

Conversely, the travel and leisure sector, encompassing airline stocks, climbed approximately 1%. Meanwhile, Philips witnessed a significant decline of 13% following a downward revision of its annual sales forecast. Investors also awaited crucial speeches and economic figures from the European Central Bank, Sweden, and the Eurozone, while U.S. tech giants prepare to release their quarterly earnings.

(With inputs from agencies.)