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European markets close slightly higher; Temenos up 8.8%

Holly Ellyatt

This is CNBC's live blog covering European markets.

European markets were slightly higher Monday, off the back of largely positive sentiment last week.

European markets


The pan-European Stoxx 600 index provisionally closed up 0.17%, rebounding slightly from a negative morning session. Mining stocks led losses, sinking 1%, while health care stocks were up 0.95%.

Shares of Swiss software company Temenos were up 8.8% on Monday, rebounding from steep losses at the end of last week following a scathing report from short-seller Hindenburg Research.

In Asia-Pacific overnight, stock markets in China rose as traders returned from the Lunar New Year holidays on Monday to upbeat travel data, while Hong Kong stocks fell.

The People's Bank of China on Sunday held a key policy rate steady as expected, as markets reassessed when the U.S. Federal Reserve might start easing its monetary policy this year.

U.S. markets are closed Monday for Presidents Day.

Europe stocks close higher

European stocks nudged higher Monday, with the Stoxx 600 index up 0.17% after gaining 1.4% last week.

The U.K.'s FTSE 100 was up 0.22%, though France's CAC 40 was flat and Germany's DAX fell 0.15%.

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Stoxx 600 index.

— Jenni Reid

AstraZeneca exec says lung cancer results show strategy is working

Positive lung cancer results show our strategy is working, AstraZeneca exec says
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Positive lung cancer results show our strategy is working, AstraZeneca exec says
Squawk Box Europe

Greg Rossi, senior vice president of oncology in Europe and Canada at Anglo-Swedish drugmaker AstraZeneca, told CNBC that the three lung cancer developments announced by the company in recent days are a positive sign for its current strategy.

"It shows our strategy is really delivering around our portfolio, around the idea of going early where we can have the potential for cure, has the opportunity of really having patient benefit," Rossi said.

"The portfolio approach of trying to have a medicine for all lung cancer patients, regardless of stage of disease, is really now coming to fruition," he added.

A trial of AstraZeneca's leading cancer drug Tagrisso showed "overwhelming efficacy" in a type of lung cancer treatment, the company said Monday. Meanwhile, the U.S. Food and Drug Administration has approved Tagrisso's use for a type of lung cancer, and accepted another medicine, Dato DXd, for review in lung cancer medication.

AstraZeneca shares were 3% higher in afternoon trade.

— Jenni Reid

Temenos shares rebound 6.5% following pushback against Hindenburg report

Shares in Swiss software company Temenos were up more than 6.5% in early deals on Monday, rebounding from steep losses at the end of last week.

The stock fell 6% on Friday, compounding a 28% tumble during the previous day, after it released a statement saying its board of directors "fundamentally refutes" a report by short-seller Hindenburg Research.

The report alleged "hallmarks of manipulated earnings and major accounting irregularities" at Temenos, basing its allegations on a four-month investigation which included interviews with 25 former employees of the company.

Tenemos shares were up 6.7% by 9:40 a.m. London time.

— Karen Gilchrist

Stocks on the move: AstraZeneca up 3.4%, Bechtle down 3%

Shares of AstraZeneca rose 3.4% in early deals Monday after the U.S. Food and Drug Administration approved use of the company's blockbuster cancer drug Tagrisso with chemotherapy to treat a type of lung cancer.

Meantime, shares of German IT company Bechtle fell 3% after receiving an "underweight" rating from Barclays over what it described as the firm's limited profit prospects for this year.

— Karen Gilchrist

CNBC Pro: A 'good year' for stocks: Morgan Stanley's Slimmon names 3 to buy right now

Equity markets have been having a pretty good year so far, with the S&P 500 benchmark closing above 5,000 for the first time last week.

"I think it is very encouraging because what it says is that earnings estimates for this year are not going down, and they're potentially, probably going higher. And that's important for the market," Andrew Slimmon, managing director and senior portfolio manager and Morgan Stanley Investment Management, told CNBC.

Saying it's going to be a "good year for equities," Slimmon shared three stocks he likes.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

CNBC Pro: These are the only 2 ETFs that made money every year for the past decade

Two funds investing in defensive stocks are the only exchange-traded funds worldwide that had a positive return every year over the past decade, CNBC Pro research has found.

The two funds stood out among 8,300 equity ETFs worldwide screened by CNBC Pro. Both funds have more than doubled investors' cash over the past decade.

CNBC Pro subscribers can read more here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are set to open in positive territory Wednesday, building on gains seen since the start of the week.

The U.K.'s FTSE 100 index is expected to open 40 points higher at 8,084, Germany's DAX up 60 points at 18,201, France's CAC 20 points higher at 8,130 and Italy's FTSE MIB up 206 points at 34,331, according to data from IG.

Earnings come from Orange, Air Liquide, Iberdrola, Roche and Heathrow. Data releases include Germany's Ifo Institute's survey on business conditions and expectations for April.

— Holly Ellyatt