Investing.com - European stocks were broadly higher on Monday, as the European Central Bank's asset-purchasing program continued to lend broad support to equity markets.
During European morning trade, the EURO STOXX 50 climbed 0.55%, France’s CAC 40 gained 0.47%, while Germany’s DAX 30 advanced 0.80%.
European equities remained supported after the ECB began purchasing securities last Monday as part of an asset-buying program amounting to €60 billion a month.
However concerns over the situation in Greece persisted, as the eurogroup of finance ministers continued talks in Brussels to discuss a reform package put forward by Greece as part of its bailout review.
Greek Prime Minister Alexis Tsipras said last Thursday that the country will be able to fulfill its financial responsibilities, even if creditors don't a pay a tranche of aid.
Financial stocks were broadly higher, as French lenders BNP Paribas (PARIS:BNPP) and Societe Generale (PARIS:SOGN) gained 0.56% and 0.19%, while Germany's Deutsche Bank (XETRA:DBKGn) and Commerzbank (XETRA:CBKG) advanced 0.44% and 1.81%.
The German lender reportedly agreed last week to pay $1.45 billion to settle multiple U.S. investigations, putting an end to years of violations claims and its role in one of Japan’s biggest accounting scandals.
Among peripheral lenders, Italy's Unicredit (MILAN:CRDI) and Intesa Sanpaolo (MILAN:ISP) climbed 0.73% and 0.81% respectively, while Spanish banks BBVA (MADRID:BBVA) and Banco Santander (MADRID:SAN) rose 0.35% and 0.63%.
Hennes & Mauritz AB (ST:HMb) added to gains, surging 2.25% after the clothing retailer reported that first-quarter sales rose more-than-expected.
On the downside, Lafarge (PARIS:LAFP) saw shares plunge 4.42% after the French cement maker said it is willing to consider revising the share-exchange ratio in its planned merger with Swiss company Holcim Ltd (SIX:HOLN).
Holcim, whose shares were down 1.06%, had said last week that it wont pursue the transaction under the terms agreed last July.
In London, FTSE 100 rose 0.33%, led by Standard Life (LONDON:SL), up 2.25% amid reports the investment group may increase its stake in an Indian joint venture.
Mining stocks were also broadly higher, with Bhp Billiton (LONDON:BLT) and Rio Tinto (LONDON:RIO) advancing 0.72% and 0.98% respectively, while Randgold Resources (LONDON:RRS) rallied 1.62%.
U.K. lenders were also mostly on the upside, as Lloyds Banking (LONDON:LLOY) inched up 0.06% and HSBC Holdings (LONDON:HSBA) gained 0.39%, while Barclays (LONDON:BARC) jumped 0.95%. The Royal Bank of Scotland (LONDON:RBS) underperformed however, sliding 0.32%.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.16% gain, S&P 500 futures signaled a 0.21% increase, while the Nasdaq 100 futures indicated a 0.15% rise.
Later in the day, the U.S. was to produce reports on industrial production and manufacturing activity in the New York region, as well as private sector data on the housing market.