Updated Mon, Jul 10 202311:53 AM EDT

European markets close slightly higher after China's low inflation reading

This is CNBC's live blog covering European markets.

LONDON — European markets closed slightly higher on Monday, as investors digest a surprisingly low Chinese inflation reading and look ahead to key U.S. data and corporate earnings later in the week.

The pan-European Stoxx 600 ended up 0.2%, having reversed opening losses of around 0.3%. Travel and leisure stocks added 1.3% to lead gains while mining stocks shed 0.6%.

The European blue-chip index closed out its worst week for almost four months on Friday as hawkish tones from central bankers and resilient U.S. economic data deepened concerns that interest rates will stay higher for longer.

Chinese annual producer prices fell for a ninth consecutive month in June as consumer prices remained unchanged, official data showed Monday, highlighting the challenges faced by the world's second-largest economy in reviving demand and jump-starting economic growth.

Shares in Asia-Pacific were mixed on Monday as caution prevailed, while investors will also be awaiting key inflation reports this week, including the U.S. consumer price index report due Wednesday and the producer price index on Thursday.

U.S. stocks rose on Monday as investors prepared for the slate of inflation data and the start of second-quarter earnings season. Finance behemoths BlackRock, JPMorgan Chase, Wells Fargo and Citi will all report.

U.S. stocks closed lower on Friday after the Labor Department's June jobs report showed payrolls increased less than expected, cooling down from May. Nonfarm payrolls rose by 209,000, while the unemployment rate came in at 3.6%. The figures increased expectations that the Federal Reserve will have to restart interest rate hikes this month.

There are no major corporate earnings or economic data releases due out of Europe on Monday.

Mon, Jul 10 20237:44 AM EDT

Stocks on the move: OSB Group up 8%, Just Eat Takeaway up 5%

Shares of British financial services firm OSB Group gained more than 8% on Monday to partially recoup Friday's sharp losses.

The group, which includes businesses such as Kent Reliance, Precise Mortgages and Prestige Finance, saw its shares tank 27% on Friday after projecting a £180 million ($230 million) fall in net income as mortgage customers move away from high-rate products.

Just Eat Takeaway shares also added 5.5%.

At the bottom of the Stoxx 600, Swedish commercial property firm Wihlborgs Fastigheter fell more than 7% after its first-half interim earnings report.

— Elliot Smith

Mon, Jul 10 20237:33 AM EDT

European stocks nudge higher, reversing earlier losses

The pan-European Stoxx 600 was up 0.2% by early afternoon, having reversed opening losses of around 0.3%. Travel and leisure stocks added 0.7% while basic resources shed 0.9%.

Mon, Jul 10 20234:59 AM EDT

This is 'the end of the beginning' of the battle against inflation, economist says

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'The end of the beginning' of the battle against inflation, economist says

Squawk Box Europe

Kokou Agbo-Bloua, global head of economics, cross-asset and quant research, discusses the outlook for the U.S. and euro area economies as central banks grapple with sticky core inflation.

Mon, Jul 10 20234:44 AM EDT

Paschal Donohoe: Inflation picture is improving but journey not complete

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Paschal Donohoe: Inflation picture is improving but journey not complete

Squawk Box Europe

CNBC's Charlotte Reed speaks to Paschal Donohoe, the president of the Eurogroup, and Laurence Boone, France's minister of state for Europe, at the Aix-en-Provence economic forum.

Mon, Jul 10 20234:35 AM EDT

European shares recoup losses

The pan-European Stoxx 600 hovered fractionally above the flatline by mid-morning, having recouped opening losses of around 0.3%. Oil and gas stocks added 0.8% while basic resources dropped 0.9%.

— Elliot Smith

Mon, Jul 10 20233:16 AM EDT

Stocks on the move: GTT up 5%, Scout24 down 5%

Shares of France's Gaztransport & Technigaz (GTT) added 5% in early trade to lead the Stoxx 600. The multinational naval engineering firm last week announced that it had received several orders from Samsung Heavy Industries for the tank design for five new liquefied natural gas (LNG) carriers.

At the bottom of the European blue chip index, German digital marketplace Scout24 fell 5% after UBS issued a "sell" rating for the stock.

— Elliot Smith

Mon, Jul 10 20233:08 AM EDT

European markets open slightly lower

The pan-European Stoxx 600 index slipped 0.2% lower in the early minutes of Monday's trade, with basic resources shedding 0.7% to lead losses as most sectors opened in the red. Oil and gas stocks bucked the downward trend to add 0.4%.

— Elliot Smith

Mon, Jul 10 20232:14 AM EDT

Here are the opening calls

Britain's FTSE 100 is set to fall by around 27 points to 7,230, Germany's DAX is expected to slide by around 48 points to 15,555 and France's CAC 40 is seen around 41 points lower at 7,071, according to IG data.

Sun, Jul 9 202311:35 PM EDT

CNBC Pro: Barclays names stocks set to gain from A.I. over the medium to long-term

Barclays has named several global stocks that are expected to do well as the usage of artificial intelligence (AI) related services evolves.

The investment bank acknowledged that hardware and infrastructure giants, most notably Nvidia and Microsoft, are currently capturing the immediate economic benefits. Still, over the long term, it could see businesses in the service sector cashing in significantly.

Of the companies Barclays named, analysts expect two stocks to rise by more than 50% over the next 12 months

CNBC Pro subscribers can read more here.

— Ganesh Rao

Sun, Jul 9 20239:49 PM EDT

China's producer prices fall further, consumer price remains unchanged

China's producer price index fell further than expected with a decline of 5.4% year-on-year, further than a fall of 5% that economists surveyed by Reuters expected.

Consumer prices remained unchanged year-on-year, widely in line with expectations while the month-on-month reading fell 0.2%.

The onshore Chinese yuan strengthened fractionally and last traded at 7.2194 against the U.S. dollar.

— Jihye Lee