European stocks opened slightly higher on Monday with investors focused on fresh economic data and corporate earnings.

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The pan-European STOXX 600 was 0.44 percent higher.

Investors are focused on flash manufacturing and services PMIs for the euro zone, due out at 9 a.m. London time.

Meanwhile, the Bank of England will release its latest Asset Purchase Facility Quarterly Report on Monday. Media reports over the weekend said that small UK-based banks were preparing to leave the city before the end of the year, whereas international banks were planning its departure for the start of 2017.

It is an important week for earnings. In Europe, Philips released new numbers showing third-quarter sales of 5.9 billion euros and a 14 percent improvement in adjusted EBIDTA (earnings before interest, taxes, depreciation and amortization).

Oil prices fell Monday after Iraqi officials said the country would not be part of any deal to cut OPEC production.

First Published:Oct 24, 2016 1:19 PM IST