European markets look set for muted open

European markets set to start the week on a positive note

European markets look set for a muted start to the trading week after ending on a high Friday.

The pan-European Stoxx 600 index closed 1.5% higher last week, pulling back from a two-month low Wednesday after U.S. lawmakers passed a bill to raise the debt ceiling and cap government spending.

In Europe, traders are still analyzing the impact of Thursday’s inflation data, which showed euro zone inflation falling to its lowest level since February 2022. European Central Bank President Christine Lagarde said the 6.1% figure was still “too high” and suggested, along with other ECB officials, that the central bank’s hiking cycle would have to continue.

Asia-Pacific markets were largely higher on the U.S. debt ceiling news, while U.S. equity futures were little changed Sunday evening.

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