Stocks struggled for momentum on Monday as investors awaited key U.S. inflation readings for guidance on monetary policy, while bitcoin rebounded from its hammering on news of China’s clampdown on mining and trading of cryptocurrencies.

Stocks struggled for momentum on Monday as investors awaited key U.S. inflation readings for guidance on monetary policy, while bitcoin rebounded from its hammering on news of China’s clampdown on mining and trading of cryptocurrencies.

European stocks were 0.1% firmer, after gaining support from Friday’s data showing accelerating business growth in Britain and the euro zone for April. ECB President Christine Lagarde’s assertion the same day that it was still too early for the bank to discuss winding down its 1.85 trillion euro stimulus scheme had also lent support.

Markets in Austria, Denmark, Hungary, Norway, Switzerland and Germany were closed for a holiday.

“The euro zone and the UK are starting to boom as their economies reopen,” Bank of Singapore chief economist Mansoor Mohi-uddin said in a note.

“Falling hospitalisations, declining fatalities, faster vaccinations and easing lockdowns are all helping confidence to recover rapidly across Europe.”

The MSCI world equity index was 0.1% firmer.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.2% in slow trade. Japan’s Nikkei added 0.2% and Chinese blue chips 0.4%.

Nasdaq futures rose 0.4% and S&P 500 futures firmed 0.5%

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