European stock markets closed mixed on Monday, with investors keeping an eye on U.S. debt ceiling talks and Greek election results.
The pan-European Stoxx 600 closed 0.01% higher, having shed marginal gains made through the morning.
Sectors were mixed, with travel and leisure up 0.6% as oil and gas and mining stocks dropped 0.4%.
Germany’s DAXÂ index slipped from Friday’s record close, closing 0.3% lower.
In Greece, the Athens General Composite Index rocketed up almost 7% after the ruling conservative party, New Democracy, secured a firm lead in elections on Sunday. Talks will now begin over a second election as it fell just short of a parliamentary majority and Greek Prime Minister Kyriakos Mitsotakis rejected the option to seek a coalition government.
Federal leaders are expected to continue with negotiations on the U.S. debt ceiling on Monday as the country approaches a potential default, with President Joe Biden and House Speaker Kevin McCarthy scheduled to meet at the White House.
On Sunday, U.S. Treasury Secretary Janet Yellen said “hard choices” will need to be made about which bills will go unpaid if the debt ceiling is not raised and reaffirmed her warning that the United States could default on its debt as early as June 1.
Asia-Pacific markets mostly rose as stocks in Tokyo extended a rally, while U.S. stocks moved higher.
