AgenciesThe pan-European STOXX 600 index was up 0.1% as of 0710 GMT on the first trading session of the new quarter, after gaining consecutively for the last two quarters.
Oil and gas shares were the top gainers, with the index rising 3.6%, set for its best day in four months.
Crude prices jumped more than 5% after Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day.
Shares of oil giants such as Total, Shell and BP rose around 4% each.
Investors will closely monitor the eurozone's manufacturing data for March, due later in the day, to assess the strength of its economies.
Unicredit was up 0.5% as the bank started the first tranche of its share buyback programme on Monday of up to 2.34 billion euros.
Logistics firm DSV fell 2.8% after a share placement.
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Rate Action may Pause with 25bps Hike This WeekIndia’s central bank is likely to raise the cost of funds by a quarter percentage point this week, perhaps for the last time in the current cycle of rate hardening, as sticky local inflation and the West’s hawkish stance outweigh growth concerns spawned by a cumulative 250-basis point (bps) rate increase in less than 11 months.
Global, Indian FMCG Cos in Race for Capital FoodsNestle, Kraft Heinz, Hindustan Unilever, Tata, ITC, Orkla and Nissin Foods are among the contenders for an estimated $1-1.25 billion buyout of Capital Foods Pvt Ltd, the maker of condiments, food products and ingredients under the Ching’s Secret and Smith & Jones brands, said people with knowledge of the matter.
Several I-T Orders Sent under Black Money Law to Beat Mar 31 DeadlineSeveral orders for violating the black money law were released in the run-up to March 31 as the Income Tax (I-T) office rushed to beat the deadline set by the law.
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