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European stocks were subdued on Monday, even as defense stocks climbed amid the prospect of higher defense spending in Europe to deter Russian aggression. <\/p>\n
Media reports suggest that Germany could approve a fund to boost defense spending before the outgoing parliament steps down next month.<\/p>\n
Traders also shifted focus to the European Central Bank meeting due on Thursday, with economists expecting another 25-bps rate cut. <\/p>\n
Eurozone flash inflation figures and final factory PMI data may garner some attention later in the session.<\/p>\n
The pan European STOXX 600 slipped 0.2 percent to 55.31 after ending marginally higher in the previous session. <\/p>\n
The German DAX was marginally lower and France’s CAC 40 shed 0.2 percent while the U.K.’s FTSE 100 was up 0.2 percent. <\/p>\n
Rheinmetall shares jumped 9 percent, BAE Systems soared 14 percent and Leonardo rallied 10 percent. <\/p>\n
Rio Tinto shares were half a percent higher. The mining major said its East Intercourse Island facility at Dampier Port has resumed operations after flooding from Tropical Cyclone Sean. <\/p>\n
ING Groep NV gained half a percent after it agreed to acquire a minority stake in Dutch private bank Van Lanschot Kempen N.V. <\/p>\n
J Sainsbury fell more than 1 percent. The U.K. supermarket chain said it has completed the sale of its Argos Financial Services store card portfolio to NewDay Group. <\/p>\n<\/p>\n<\/div><\/div>\n