- Fed releases meeting minutes
- French and German PMIs released
- Russian troops return to base in June
FTSE 100: 0.27%
CAC 40: -0.08%
FTSE MIB: -0.40%
IBEX 35: -0.24%
Stoxx 600: 0.19%
European stocks rallied after the US Federal Reserve's meeting minutes showed members saw continued recovery in the world's biggest economy.
The Fed last month decided to taper monthly bond purchases by a further $10bn to $45bn, citing improvements in the economy and in the jobs market.
The minutes from the central bank's April meeting also revealed that members discussed the need to improve their guidance on interest rates.
They agreed that early communication of their exit strategy "would enhance the clarity and credibility of monetary policy".
On today's agenda preliminary data from Markit showed France's services and manufacturing sectors shrank again in May.
The headline services sector purchasing managers index (PMI) fell to a reading of 49.2 in May, from 50.4 in the month before, missing the 50.4 consensus.
The manufacturing gauge slipped to reading of 49.3 from 51 in April, falling short of the 51.2 projection. A reading above 50 signals expansion.
German manufacturing PMI fell to 52.9 in May from 54.1 in April, trailing estimates of 54, while services dropped to 56.4 from 54.7 but beat the 54.5 forecast.
In China, manufacturing PMI rose to 49.7 in May, a five-month high, from 48.1 in April and exceeding the 48.3 estimate.
Eurozone services and manufacturing PMIs will be released at 08:00 GMT.
Later in the session, US reports will be released including initial jobless claims and existing home sales.
European election begins
Europe's election begins today with polls opening in Britain and the Netherland where far-right anti-European Union parties are expected to win votes.
Up to 380m Europeans will vote in 28 countries, choosing 751 deputies to represent them in the European Parliament.
The election is expected to produce a surge in support by those in favour of the UK leaving the European Union as the region continues to suffer a stagnant recovery.
Russia withdraws troops
Russian President Vladimir Putin said he would pull back troops from Ukraine and send them back to bases by June 1st.
Russia's Defence Ministry said soldiers who were on drills in the Rostov, Belgorod and Bryansk regions are returning to their permanent stations.
Royal Mail slides after FY results
Royal Mail slumped after the UK postal service warned of challenges in parcel and letter delivers as it posted its full-year results.
Vivendi advanced after revealing plans to sell 41.5m shares
in Activision by May 28th under an existing agreement.
Raiffeisen gained after reporting first-quarter net income that exceeded estimates.
The euro fell 0.07% to $1.3678.
Brent crude futures fell $0.100 to $110.440 per barrel, according to the ICE.