Investors continue to monitor developments in the Middle East. Media reports suggest that Iran has presented a new proposal to open the Strait of Hormuz. Oil prices continue to climb on Monday.
Later this week, a series of interest rate decisions are expected from the world's major central banks, including the Federal Reserve and the ECB. Consensus expectations are for rates to remain unchanged.
Due to a growing national debt, S&P Global Ratings chose to downgrade the outlook for Finland's credit rating to negative from stable. The AA+ rating was reaffirmed.
The broad European index, the Stoxx 600, was up 0.12 percent to 611.36 at 11:09 AM. During the day, the index has traded within a range of -0.27 percent at its lowest and 0.16 percent at its highest.
Sector-wise, energy is performing best, up 0.89 percent, while retail is noted for the second-best performance, up 0.76 percent.
The weakest performance is seen in food and beverage, down 0.48 percent, while insurance is noted for the second-weakest, down 0.40 percent.
German wind power company Nordex jumped 11.9 percent in morning trading. The wind power firm reported an order book of 17 billion euros at the end of March, up from 14 billion euros the previous year. Project operations account for approximately 10.5 billion euros, while the service business amounts to around 6.5 billion euros.
Other European wind power stocks followed the upturn. Vestas rose 2.9 percent and Ørsted climbed 3.6 percent. Ørsted was also supported by a buy recommendation from Goldman Sachs.
Some major orders were also noted within the European defense sector. Germany's Rheinmetall received an order worth around 1 billion euros from the German armed forces. France's Thales took an order from Australia worth around 750 million Australian dollars. Rheinmetall rose 1.7 percent and Thales fell 0.8 percent.
In today's analyst harvest, it is noted that Inderes has downgraded Vaisala to accumulate from buy. Vaisala was unchanged at midday.
Handelsbanken lowered Tomra to hold from buy. Meanwhile, SB1 Markets has raised its rating by two notches from sell to buy. Tomra rose 2.9 percent.
Goldman Sachs downgraded Sainsbury to sell from buy. Sainsbury fell 3 percent.
| Index | Last | Today, % | YTD, % | Time |
| Stoxx 600 | 611.26 | 0.10% | 3.22% | 11:10:00 |
| FTSE 100 | 10 384.16 | 0.05% | 4.56% | 11:10:04 |
| DAX | 24 236.35 | 0.44% | -1.04% | 11:10:02 |
| CAC 40 | 8 175.85 | 0.22% | 0.32% | 11:10:07 |
| Sector Performance Stoxx 600: | ||||
| Automobiles & Parts | 463.64 | -0.08% | -11.68% | 11:10:00 |
| Banks | 355.64 | 0.51% | 0.10% | 11:10:00 |
| Basic Resources | 796.74 | -0.04% | 19.60% | 11:10:00 |
| Chemicals | 1 224.96 | 0.05% | 10.61% | 11:10:00 |
| Construction & Materials | 861.33 | 0.46% | 1.57% | 11:10:00 |
| Oil & Gas | 550.79 | 0.90% | 36.13% | 11:10:00 |
| Financial Services | 899.30 | 0.17% | -0.01% | 11:10:00 |
| Food & Beverage | 613.41 | -0.48% | -1.48% | 11:10:00 |
| Industrial Goods | 1119.64 | 0.48% | 4.81% | 11:10:00 |
| Insurance | 506.24 | -0.40% | -0.81% | 11:10:00 |
| Media | 363.52 | -0.03% | -8.86% | 11:10:00 |
| Health Care | 1 094.76 | -0.20% | -4.15% | 11:10:00 |
| Technology | 899.31 | -0.31% | 7.50% | 11:10:00 |
| Telecommunications | 297.53 | 0.11% | 16.28% | 11:10:00 |
| Utilities | 563.26 | -0.08% | 15.01% | 11:10:00 |
| Personal & Household Goods | 935.68 | -0.20% | -12.83% | 11:10:00 |
| Retail | 461.23 | 0.76% | -5.15% | 11:10:00 |
| Travel & Leisure | 254.32 | -0.04% | -9.33% | 11:10:00 |
| Real Estate | 127.22 | -0.40% | 0.70% | 11:10:00 |
| Source: Factset |
