- US industrial and manufacturing reports
- US pending home sales
- Federal Reserve policy meeting
- Euro-area employment data
FTSE 100: 0.06%
CAC 40: -0.08%
FTSE MIB: 0.23%
IBEX 35: 0.06%
Stoxx 600: 0.09%
European stocks opened mixed on Monday ahead of US economic data and the Federal Reserve's policy meeting.
US industrial production in September is expected to increase 0.4%, in line with the prior month's growth, when released later today. Manufacturing output last month rose 0.3%, compared to a 0.7% in August, according to consensus.
Another report is anticipated to show pending homes sales in the world's biggest economy remained little changed.
The data comes as the US central bank prepares to meet tomorrow for its two-day meeting after which it will announce any changes to its stimulus programme and interest rate.
Economists predict the Fed will keep its monthly $85bn bond buying programme unchanged and maintain the interest rate at 0.25%. A tapering of quantitative easing is not expected until March 2014.
"The Fed's $85bn per month of asset purchases has contributed hugely to equity indices in the US reaching record highs," said Craig Erlam, Market Analyst at Alpari UK.
"Therefore, it's no surprise that since [Ben] Bernanke's warning back it May, that purchases will probably be scaled back later in 2013, investors have been paying very close attention to these meetings and any comments from Fed officials that come in the weeks in between."
Italy to determine fate of euro-area, says Asmussen
European Central Bank Executive Board member Joerg Asmussen has said Italy will "critically determine the fate of the euro-area".
He said the euro-area will not prosper unless Italy restores economic growth.
Asmussen's remarks came after Fitch Ratings affirmed Italy's BBB+ rating with a negative outlook.
Italian officials have forecast unemployment will continue to rise against an unstable coalition due to the legal scandals of former premier Silvio Berlusconi.
Italy will release its labour report for September an hour before the European Union's statistics office publishes the euro-area labour data on October 31st.
Aggreko may rise after the temporary power group said it expected full year profits to be in line with market expectations despite the absence of a one-off lift from the London Olympics.
Balfour Beatty is tipped to gain after the infrastructure group was awarded two UK coastal defence contracts for Blackpool and Wyre councils.
ThyssenKrupp may fall following reports that a series of issues made it impossible for the steelmaker to sell its plant in Brazil.
TUI could move after the company halted further development of its Tuscan resort, Castelfalfi, according to a report in Spiegel.
Other asset classes climb
The euro rose 0.07% to $1.3812.
Brent crude futures increased $0.632 to $107.610 per barrel on the ICE.