European stocks rise ahead of earnings announcements from more large US banks

European stocks rose on Monday as investors expected major US banks to continue reporting strong quarterly earnings this week, while also looking forward to the Federal Reserve ending its interest rate hike cycle.

The European STOXX 600 index rose 0.3 percent after hitting its highest level in more than a year last week, and the STOXX 50 blue-chip index reached its peak in 22 years.

Mining stocks were the main gainers, up 1.6 percent, while technology stocks fell 0.6 percent.

Investors will closely watch the release of a batch of earnings reports, led by those from Goldman Sachs, Morgan Stanley and Bank of America later this week.

Earnings from Citigroup, JPMorgan and Wells Fargo beat expectations last week, benefiting from higher interest rates and easing concerns about stress on the banking system.

Investors are also awaiting the statements of European Central Bank officials, led by its president, Christine Lagarde.

Rovio shares rose 17.8 percent after Japan’s Sega agreed to submit a 706 million euro offer to buy the video game company.