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European stocks edged higher on Monday as traders took a cautious view ahead of earnings season.
The Stoxx Europe 600 SXXP, +0.14% added 0.16% to 419.81, which is slightly above the record close of 419.74 reached on Dec. 27.
A number of U.S. earnings reports are due this week, notably from banks including JPMorgan Chase, Citi and Bank of America. European earnings results will begin next week. In addition, the U.S. and China are due to sign a preliminary trade pact.
U.S. stock futures ES00, +0.38% were stronger.
Of stocks in the spotlight, Renault RNO, -2.80% shares fell 3.7% as the Financial Times reported that senior managers at Nissan NSANY, -1.87% senior managers have sped up discussions over a potential split from the French automaker. The Japanese carmaker holds 15% of Renault, while Renault owns 43% of Nissan.
Carlos Ghosn, the fugitive former chief executive of both Nissan and Renault, has been critical of the Japanese automaker’s strategy.
Shares in Pennon PNN, +7.10% rallied 7.6% after The Telegraph reported that the U.K. water company is putting its waste arm Viridor up for sale. The report said Pennon rejected a bid for the unit from private equity group KKR.
