European stock markets traded higher on Monday, reflecting a cautiously optimistic sentiment among investors.
As of 03:14 GMT (08:14 ET), Germany’s DAX climbed 0.4%, while France’s CAC 40 advanced 0.7% and the U.K.’s FTSE 100, however, remained flat.
Investors are keeping a close eye on crucial economic data releases scheduled for Monday, including Germany’s Consumer Price Index (CPI) for December and service Purchasing Managers’ Index (PMI) figures for the eurozone.
Volkswagen and Xpeng deepen EV collaboration
Germany’s Volkswagen (ETR:VOWG) and China’s Xpeng (NYSE:XPEV) Motors (HK:9868) announced plans to strengthen their partnership to create one of the largest super-fast EV charging networks in China.
The automakers currently offer a combined 20,000 charging stations across 420 cities, which will now be accessible to customers of both brands.
Going forward, the two companies are exploring opportunities to establish co-branded super-fast charging stations, underscoring their commitment to expanding EV infrastructure in the world’s largest auto market.
Oil prices slide amid dollar strength and economic uncertainty
Oil prices edged lower on Monday, weighed down by a stronger U.S. dollar and lingering market concerns over geopolitical sanctions.
Traders are also bracing for economic updates from the U.S., including Federal Reserve guidance and payroll data expected later in the week.
By 03:14 ET, Brent crude futures fell 0.4% to $76.17 per barrel, while WTI crude futures slipped 0.5% to $73.60.