European stocks bounced back Monday from the previous week’s selloff, with investors keeping a wary eye on negotiations between Greece and its creditors.
In early trade the Stoxx Europe 600 rose 0.8%, after falling 1.6% last week.
The euro was steady against the U.S. dollar at $1.0915, also having slipped during the previous week.
In Asian trade Monday, the dollar drifted lower against the yen but stayed in a tight range, with a lack of fresh trading cues preventing the greenback from extending last week’s rally.
This week Greece is expected to once again remain in sharp focus ahead of a key debt repayment due to the International Monetary Fund on Friday.
In the past few weeks there have been divergent comments from Greek officials on whether Athens will be able to pay that next tranche of €300 million ($329 million). Greece is scheduled to repay a total of €1.6 billion to the IMF over the period between June 5 and June 19.
In the shorter term, investors will be eyeing eurozone manufacturing data Monday morning, as well as German consumer price data and U.S. manufacturing figures for May later in the session.
In commodity markets Brent crude fell 1.2% to $64.77 a barrel while gold was broadly flat on the day at $1,190 per troy ounce.
Officials from the Organization of the Petroleum Exporting Countries are meeting in Vienna this week and are broadly expected to stick to a decision not to cut output despite the global glut of oil.
