This was CNBC's live blog covering European markets.

European markets on Monday started the new trading week on a positive note, following uncertain sentiment last week and a repricing of interest rate expectations.

The pan-European benchmark Stoxx 600 index provisionally ended 0.6% higher, with the majority of sectors trading in the green. Telecoms stocks led gains, up 2.1%, while autos sunk 0.8%.

The U.K.'s FTSE 100 clocked its fourth daily gain Monday, rising 1.6% to finish the session at 8023.87 points, surpassing its previous record close set on Feb. 20, 2023. U.K. stocks were boosted while sterling tumbled against the U.S. dollar as investors upped bets on a summer interest rate cut from the Bank of England.

U.S. stocks were higher on Monday as Wall Street looked to find its footing after a steep selloff for tech companies.

Meanwhile, Asia-Pacific markets rebounded from Friday's selloff as investors look to fresh data out of China, Japan and South Korea this week.

Markets in the region tumbled last Friday after Israel launched a strike on Iran, causing stocks to fall and safe-haven assets to climb.

Europe stocks close higher

European stocks closed higher on Monday, with the pan-European benchmark Stoxx 600 index up 0.6% and most sectors in the green.

The FTSE 100 index jumped 1.6% to close at a record high, while Germany's DAX rose 0.6% and France's CAC 40 nudged 0.2% higher.

— Jenni Reid

British pound retreats as U.K. stocks storm ahead

The British pound was 0.4% lower against the U.S. dollar at 3:45 p.m. London time on Monday, hitting its lowest level since mid-November, while sliding 0.24% against the euro.

The U.K.'s FTSE 100 index meanwhile powered past major bourses, rising 1.8% versus gains of 0.7% for Germany's DAX and 0.4% for France's CAC 40.

The moves come as investors assess the path ahead for interest rate moves, with some now believing the Federal Reserve will be one of the last major central banks to cut rates.

A slightly hotter-than-expected U.K. inflation print earlier this month rattled expectations for a June rate cut from the Bank of England. However, market pricing now suggests a roughly 50-50 split on that probability, and a 77.5% likelihood of an August cut, according to LSEG data.

— Jenni Reid

U.S. stocks open higher

U.S. stocks ticked higher on Monday, with Wall Street looking to rebound from a string of losses last week.

The S&P 500 inched up 0.4%, while the Nasdaq Composite added 0.32%. The Dow Jones Industrial Average climbed 94 points, or 0.61%.

— Brian Evans

UK housing market shows signs of recovery

The U.K. house market is showing signs of strength, with asking prices rising toward a record high, according to new data released Monday by property portal Rightmove.

The average price of property coming to the market rose by 1.1% in April to £372,324 ($458,893), the research found, just £570 shy of the record set in May 2023.

Rightmove's property expert Tim Bannister said the uptick was primarily driven by wealthy homebuyers, who are typically less impacted by higher interest rates.

"Top-of-the-ladder sector continues to drive pricing activity at the start of the year, with movers in this sector typically less sensitive to higher mortgage rates, and more equity rich, contributing to their ability to move," he said.

— Karen Gilchrist

UK's FTSE 100 nears record high

The U.K.'s FTSE 100 was on track for its fourth daily gain Monday, rising 112 points or 1.4% to trade at 8008 points on hopes of a forthcoming interest rate cut from the Bank of England.

The index is currently just 39 points shy of its all-time high hit in February 2023.

— Karen Gilchrist

Stocks on the move: Galp up 17%, Sartorius Stedim down 2.6%

Shares of Portugal's Galp Energia soared to a 16-year-high, rising 17% in morning trade after the oil and gas company announced positive prospects for its gas exploration project in Namibia.

Meantime, shares of British biopharma firm Sartorius Stedim fell 2.6% as it struggled to pare losses after reporting a fall in first-quarter sales and net income last week.

— Karen Gilchrist

Europe stocks open higher

European stocks opened higher Monday, with the benchmark Stoxx 600 index up 0.5% by 8:05 a.m. London time.

The U.K.'s FTSE 100 climbed 1.1%, while France's CAC 40 was 0.5% higher and Germany's DAX was up 0.7%.

— Karen Gilchrist

CNBC Pro: A top fund manager is using these 7 global stocks to beat the market

Global stock markets may be coming under pressure from geopolitical tensions and sticky inflation — but one portfolio manager sees potential in several stocks.

"There are always investment opportunities to be found in all market conditions. We're looking out for stocks that we think are better than the market currently believes," Rob Hinchliffe, managing director and equity analyst at PineBridge Investments, told CNBC Pro last month.

Hinchliffe oversees more than $1 billion of PineBridge's assets via its Global Focus Equity Fund. The fund — launched in 1999 — has holdings in around 40 stocks.

He named a number of his top stocks right now.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

CNBC Pro: Analysts love this gold explorer's stock — and even the most cautious expect it to soar 114%

Shares of a Canadian gold explorer could double, according to analysts at Scotiabank.

The investment bank reiterated its bullish stance after the mining company released new drilling results from its mine in the United States.

And Scotiabank's aren't the only anaysts who like the stock. BMO Capital Markets gives it an upside of 209%, while Beacon Securities suggests the stock could rise by 400% over the next 12 months.

CNBC Pro subscribers can read more here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are set to open in positive territory Monday.

The U.K.'s FTSE 100 index is expected to open 78 points higher at 7,974, Germany's DAX up 58 points at 17,797, France's CAC 43 points higher at 8,050 and Italy's FTSE MIB up 136 points at 33,373, according to data from IG.

There are no major earnings or data releases Monday.

— Holly Ellyatt