Investing.com - European stocks were higher on Monday, as strong economic growth data from the euro zone and published on Friday continued to lend support to European equities.
During European morning trade, the EURO STOXX 50 added 0.19%, France’s CAC 40 edges 0.07% higher, while Germany’s DAX 30 inched up 0.04%.
On Friday, better-than-expected euro zone fourth quarter growth data eased concerns that the European Central Bank could tighten monetary policy at its next meeting.
The euro zone economy expanded 0.3% in the three months to December and expanded 0.5% from the same period a year earlier.
Germany’s gross domestic product rose 0.4% in the fourth quarter, ahead of expectations for 0.3% growth, while France avoided falling back into a recession, posting growth of 0.3%.
Separately, Italy's center-left leader Matteo Renzi was set to be nominated as Italy's next prime minister after Enrico Letta officially resigned on Friday.
Financial stocks were mostly higher, as French lender Societe Generale gained 0.25%, while Germany's Deutsche Bank and Commerzbank rose 0.11% and 0.37%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA edged up 0.12% and 0.14% respectively while Italy's Intesa Sanpaolo and Unicredit climbed 0.42% and 0.51%.
On the downside, Bouygues fell 0.21% after the French construction and telecommunications company said it will take a writedown of EUR1.4 billion on its Alstom investment in the fourth quarter.
In London, commodity-heavy FTSE 100 advanced 0.49%, supported by gains in the mining sector.
Shares in Glencore Xstrata climbed 0.67% and Vedanta Resources gained 0.81%, while BHP Billiton jumped 0.95% and Randgold Resources rallied 1.02%.
Financial stocks were also on the upside, as HSBC Holdings and Lloyds Banking added 0.13% and 0.29% respectively, while the Royal Bank of Scotland and Barclays climbed 0.55% and 0.52%.
Elsewhere, Hammerson, the U.K.'s third-largest real estate company by market capitalization, said the value of its properties rose last year as it added assets in the U.K. and France, sending shares up 0.81%.
In the U.S., equity markets were to remain closed for Presidents' Day.