Europe's main stock markets rose in early trading on Monday, ahead of a number of important meetings scheduled for later in the week, notably on the issue of the US debt ceiling.

In Paris, the CAC 40 gained 0.49% to 7,451.04 points around 08:05 GMT, buoyed by well-received results from insurer Axa.

In London, the FTSE 100 gained 0.22% and in Frankfurt, the Dax advanced by 0.18%.

The EuroStoxx 50 index rose by 0.33%, the FTSEurofirst 300 by 0.2% and the Stoxx 600 by 0.24%.

The Istanbul Stock Exchange's BIST 100 index lost 4.11% and the Turkish lira hit a two-month low as a run-off in the presidential election looks increasingly likely between incumbent President Recep Tayyip Erdogan and the main opposition candidate, Kemal Kiliçdaroglu.

"A second round means two more weeks of uncertainty. The market has lost all its gains linked to the hypothesis of a single-round election. We will see high volatility over the next two weeks, the rise in CDS (credit default swaps) is significant", said Serdar Pazi, analyst at Global securities research.

Other volatility-prone events await the markets in the coming days. China's latest industrial production and retail sales figures will be scrutinized on Tuesday, as investors become increasingly concerned about the lack of dynamism in the post-COVID recovery.

Also on the agenda are speeches by numerous Federal Reserve officials, including Chairman Jerome Powell on Friday. On the political front, talks between Republicans and Democrats are due to resume on Tuesday at the White House in an attempt to reach a compromise on raising the US debt.

On the stock market, Axa gained 2.97% after reporting higher-than-expected financial solvency in the first quarter.

Siemens Energy gained 2.46% after announcing a record order book of 102 billion euros and raising its sales outlook. (Laetitia Volga, edited by Nicolas Delame)