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European markets close slightly higher after week of losses

European stocks closed higher on Monday, with investors continuing to weigh up the European Central Bank’s latest policy decision and inflation data.

The pan-European Stoxx 600 provisionally ended the session up 0.3% after the benchmark slumped 1.2% last week. Oil and gas stocks led the gains on Monday, adding 2.8%.

European traders continued to digest the European Central Bank’s decision last week to slow down bond-buying under its pandemic emergency purchase programme (PEPP) in response to higher inflation and stronger GDP growth across the euro zone.

The ECB also modestly revised up its medium-term inflation forecasts, a move that followed data showing euro zone inflation notched a decade high of 3% in August.

Reference: CNBC