This is CNBC's live blog covering European markets.

European markets turned positive Monday, shaking off the negative sentiment seen at the start of trading in 2024.

The Stoxx 600 index closed 0.34% higher, having slumped during morning trade. Technology and retail stocks both rose 1.23% to lead gains.

Oil and gas stocks meanwhile dropped 1.55% after Saudi Arabia announced price cuts to customers in Asia, and Shell said its upcoming fourth-quarter results would contain impairment charges of up to $4.5 billion.

The pan-European index ended the session 0.3% lower Friday as stocks struggled to gain traction in the first trading week of the year.

Global investors will be looking ahead to U.S. inflation data and big bank earnings in the week ahead for further clues on the state of the economy and the path of rate cuts from the Federal Reserve.

The December consumer price index is set for release Thursday, while the producer price index is due out on Friday.

U.S. stocks opened near the flatline after the major averages kicked off 2024 with a downcast week.

Overnight, Asia-Pacific markets reversed early gains on Monday, with Hong Kong stocks leading losses in the region.

European stocks close higher

European stocks ended higher Monday, with all sectors bar miners and oil and gas recording gains.

The Stoxx 600 index gained 0.34%, coming off the back of a 0.54% decline through last week.

The technology and retail sectors, which have both had a shaky start to the year, each rose around 1.2%.

— Jenni Reid

A new phase of the market has begun, says Swiss private bank CIO

Charles-Henry Monchau, CIO at Bank Syz, says the market has entered a new phase of broadening upside potential as heavy weighting toward the seven biggest S&P 500 stocks comes under pressure.

We are clearly moving into a different super cycle, Goldman Sachs analyst says

Peter Oppenheimer, head of macro research in Europe at Goldman Sachs, discusses the outlook for economic super cycles and lessons from past cycles.

Read the story here.

U.S. stocks open mixed on Monday

Here's how the major indexes opened:

• The S&P 500 added 0.1%.
• The Dow Jones Industrial Average slipped 0.3%.
• The Nasdaq Composite gained 0.3%.

— Pia Singh

Boeing shares slide 8.4% in premarket trading; Airbus gains

Shares of Boeing fell in premarket trade Monday, as markets digested the news that the Federal Aviation Administration had ordered a temporary grounding of dozens of Boeing 737 Max 9 aircraft.

Shares were down around 8.43% at 6:45 a.m. ET.

Meanwhile, Airbus shares rose 2.45% Monday morning in France, bucking the downward trend in Europe.

The Federal Aviation Administration on Saturday said around 171 Boeing planes worldwide would be affected by its emergency airworthiness directive, which requires aircraft to be inspected before flying again.

Russ Mould, investment director at AJ Bell, noted that Friday's blowout incident is the latest in a "string of problems for the company," and suggested airlines using 737 Max planes will be "thinking long and hard about their future aircraft requirements."

Read the full story here.

- Elliot Smith

Stocks on the move: Drax up 7.5%, Galp Energia down 3.8%

British energy company Drax jumped to the top of the Stoxx 600 in early deals, up 7.5%, on news that it is set to win approval for its proposed net-zero carbon capture plan.

Meanwhile, Portuguese oil company Galp Energia fell 3.8% amid a wider fall in oil and gas stocks.

— Karen Gilchrist

Shell flags fourth-quarter writedown of up to $4.5 billion

British Oil major Shell said Monday flagged a hit to its fourth-quarter earnings from impairment charges of between $2.5 billion and $4.5 billion.

The charges were mainly related to the Singapore refining and chemicals hub the oil major is looking to sell. However, the company added that its overall production volumes are on track to meet targets.

Shell is set to release its fourth-quarter earnings on Feb. 1.

— Karen Gilchrist

CNBC Pro: Is it time to buy oil stocks? One trader reveals his top stocks to buy right now

Energy stocks may have had a tough 2023, but one trader see opportunities to play the theme into the new year, naming sectors — and stocks — he likes.

Bill Perkins, CEO and head trader at Skylar Capital Management, said he's "mildly bullish" on oil, but identified several opportunities for retail investors.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

CNBC Pro: Citi says AI demand growth will boost these 9 memory chip stocks — and gives one 60% upside

Citi predicts there's strong growth ahead for memory chipmakers, driven by rising demand for artificial intelligence applications.

The Wall Street bank estimates that specialized memory and storage products meant for AI chips will claim a greater share of the total market, reducing volatility in the sector.

The investment bank named nine stocks that would benefit from the trend. CNBC Pro subscribers can read more here.

— Ganesh Rao

European markets: Here are the opening calls

European markets are set to open in negative territory Monday.

The U.K.'s FTSE 100 index is expected to open 15 points lower at 7,671, Germany's DAX down 15 points at 16,573, France's CAC down 14 points at 7,405 and Italy's FTSE MIB down 62 points at 30,468, according to data from IG. 

Euro zone retail sales data for December will be released Monday.

— Holly Ellyatt