European Markets Brace for Sino-U.S. Trade Talks Impact

European shares remained steady on Monday as investors awaited important trade talks between the U.S. and China in London aimed at easing trade tensions. The STOXX 600 index held flat following a week of gains, with mixed performances across different sectors and notable movements from Alphawave and Qualcomm.

European shares began the week in a subdued manner, holding onto last week's gains amid anticipation of crucial Sino-U.S. trade talks set to occur later Monday in London.

The pan-European STOXX 600 index experienced a stagnant start to the day, stalled at 553.72 points by 0708 GMT, following a strong performance over the previous four sessions. Investors are closely watching the meeting between top U.S. and Chinese officials, hopeful for signs of easing tensions in the ongoing trade battle between the world's largest economies.

The talks come on the heels of a phone call between the U.S. and Chinese presidents, who agreed to further negotiations. The market saw technology and construction shares lagging, while real estate and mining sector gains cushioned losses. Notably, Alphawave's stock soared 22% after Qualcomm's $2.4 billion acquisition move. Meanwhile, certain European markets remained closed for a local holiday.

(With inputs from agencies.)