European markets traded close to record levels on Monday, buoyed by renewed optimism following signs of easing trade tensions between the U.S. and China.
Investors are also gearing up for a packed week of central bank activity, with upcoming interest rate decisions from the Federal Reserve, European Central Bank, and Bank of Japan. Markets are pricing in a 25 basis point rate cut from the Fed, while the ECB and BOJ are widely expected to keep their policies unchanged.
Earnings season remains in focus as major U.S. technology firms, including Apple Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT), prepare to release their quarterly results.
In European trading, the FTSE 100 rose 0.1%, while the DAX hovered just below flat and the CAC 40 slipped 0.1%.
Shares of Porsche AG (BIT:1PORS) climbed despite the automaker reporting a 96% plunge in profits over the first nine months of 2025. The sharp decline was tied to heavy restructuring costs as the company pulled back on its electric vehicle strategy and faced weaker demand in China.
Meanwhile, Novartis (NYSE:NVS) shares moved lower after the Swiss drugmaker confirmed a $12 billion cash acquisition of Avidity Biosciences (NASDAQ:RNA).
London-based lender HSBC Holdings (LSE:HSBA) also declined after revealing a $1.1 billion provision related to an appeal loss in a Madoff lawsuit during its third-quarter results.
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