European stocks set to rise at the start of the week, traders digest rate hikes; FTSE closed

LONDON – European indexes are set to start the trading week on a stronger footing, with traders looking ahead to more corporate earnings, economic data and a Bank of England rate decision this week.

The U.K.’s FTSE 100 will be closed Monday for a public holiday after the coronation of King Charles III. France’s CAC 40 is set to start the day 30 points higher at 7,367, the German DAX is expected to rise 58 points to 15,791 and the Italian FTSE MIB is set to move 115 points higher to 26,575.

Market players have spent weeks juggling concerns over inflation and interest rates, with the Bank of England due for a rate-setting meeting on Thursday. Both the Federal Reserve and the European Central Bank hiked rates by a quarter of a percentage point last week, with many now expecting the former to start cutting rates at some point during the summer.

Asia-Pacific markets largely rose on Monday, with the only outlier being Japan, which saw the Nikkei 225 fall. Minutes from Japan’s March monetary policy meeting showed board members were concerned over inflation accelerating at a higher-than-expected pace.

U.S. futures were flat on Monday as investor attention this week turns to April’s consumer price index due out Wednesday, followed by the producer price index on Thursday.

—CNBC’s Jihye Lee and Samantha Subin contributed to this article.