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Market Update

European Markets Rise in Quiet Trade

European stocks were trading higher in early Monday trades as last week's positive German data continued to boost sentiment, although gains were capped amid speculation that the U.S. Federal Reserve may scale back asset purchases.

Trading was light as markets in London remained closed for a bank holiday. 

Elsewhere, the CAC40 Paris rose 0.9% while DAX Frankfurt gained 0.7% at 11:01 a.m. local time.

Data released on Friday showed Germany's Ifo index of business climate increased during May for the first time in three months. The index rose to 105.7 from 104.4 in April, raising hopes of economic growth in the continent's largest economy.

Stocks on the move

Among financials, French lender BNP Paribas SA added 1.5% while Credit Agricole SA was 1.2% higher. 

German banks Deutsche Bank AG gained 1.4% while Commerzbank AG bounced 3.5%.

Also in Germany, enterprise software provider SAP AG  enhanced over 2% after ending talks to take over Jive Software Inc.