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European stocks may open on a sluggish note Monday as investors await China's rate decision, the Bank of England's monetary policy announcement and Fed Chair Jerome Powell's testimonies this week for directional cues.
French stocks were subdued on Tuesday amid worries about the health of the U.S. economy. Interest-rate concerns also returned to the fore after the Reserve Bank of Australia unexpectedly raised rates again by 25 basis points and kept the door open to further hikes, saying inflation still remained too high.
French stocks were subdued on Monday after data showed the French services sector lost significant momentum in May after several consecutive months of accelerating growth.
French stocks were trading higher on Friday after official data showed France's industrial production rebounded in April, led by a sharp recovery in petroleum output.
French stocks fell notably on Wednesday after data showed manufacturing activity in China contracted at a worse pace than in April, adding to doubts about China's post-Covid recovery.