Global stocks rise awaiting more inflation data

Stock markets mostly rose on Monday, with investors awaiting inflation updates this week from the eurozone and UK after soaring numbers out of the US and China.

US President Joe Biden and China's Xi Jinping meanwhile speak Monday at a virtual summit aimed at defusing some of the tensions that have built up over Taiwan and other flashpoint issues, but with both sides signalling little appetite for compromise.

European and Asian equity markets mostly enjoyed gains Monday after another healthy pre-weekend showing on Wall Street, though global inflation concerns after news last week of surging prices in the world's two biggest economies dampened the mood.

While optimism about the global economic recovery remains intact, the rise in prices at rates not seen for decades has traders increasingly worried that central banks will have to tighten monetary policy quicker and more sharply than previously thought.

"Following the blow number from the US last week, traders are not walking into the European inflation data light-hearted," noted Ipek Ozkardeskaya, senior analyst at Swissquote.