This is CNBC's live blog covering European markets.

LONDON — European markets closed higher on Monday as global investors look ahead to this week's Federal Reserve policy meeting.

The pan-European Stoxx 600 index shook off morning losses to provisionally close 0.4% higher, with media stocks adding 1.2% to lead gains while miners continued to suffer, shedding 0.9%.

The European blue chip index closed out last week in positive territory after November's U.S. jobs report showed a surprise drop in unemployment.

The S&P 500 then notched a new high for the year after the University of Michigan consumer survey data signaled resilient economic activity and cooling inflation, igniting hopes for a much-coveted "soft landing" scenario in the U.S.

U.S. stocks were flat on Monday morning, as investors look ahead to this week's Federal Reserve meeting in the hope for signals as to when policymakers will begin cutting interest rates.

Markets in Asia-Pacific diverged significantly overnight. Chinese stocks slid after data showed persistent deflationary pressures in the world's second-largest economy, driven by weak domestic demand.

Japanese shares jumped as bets built that the Bank of Japan may keep interest rates unchanged at its meeting next week.

Europe stocks close higher

European stocks closed higher Monday after a mixed session, with the Stoxx 600 index up 0.4% to continue positive momentum it has largely maintained since late October.

The U.K.'s FTSE 100 slipped 0.1% while Germany's DAX and France's CAC 40 notched gains of 0.2% and 0.3%, respectively.

— Jenni Reid

Possible for U.S. economy to slow and inflation to ease without deep recession, Morningstar CIO says

Mike Coop, chief investment officer for EMEA at Morningstar, discusses the U.S. economic outlook and the banking sector.

S&P 500 opens lower

The S&P 500 opened lower on Monday with investors on Wall Street turning their attention to the final Federal Reserve meeting of 2023.

The S&P 500 pulled back 0.1% while the Nasdaq Composite ticked down 0.04%. The Dow Jones Industrial Average jumped 67 points, or 0.2%.

— Brian Evans

‘Somebody has it wrong’ on the risk of a U.S. recession, hedge fund manager says

Markets are confused over the risk of a recession hitting the U.S., according to hedge fund manager David Neuhauser, who highlighted the divergence between oil and gold prices and 10-year Treasury yields.

Rakuten CEO says mobile division will be ‘hugely profitable’

Rakuten is grappling with mounting debts as well as a mobile division that remains unprofitable. Hiroshi "Mickey" Mikitani, CEO of Rakuten, said the company will have no problem paying off the debts and its mobile division will be "hugely profitable."

Stocks on the move: Syensqo up 11% on first day of trading after Solvay spin-off

Syensqo shares jumped more than 11% in early trade on the specialty chemicals firm's first day of trading since its spin-off from Belgian multinational Solvay.

At the bottom of the Stoxx 600, German renewable energy company Encavis fell 5% after Morgan Stanley cut the stock from equal-weight to underweight.

- Elliot Smith

A muted open in Europe

European shares made a tepid start to the week's trade on Monday.

The pan-European Stoxx 600 index hovered around the flatline in early trade, with financial services adding 0.4% to lead gains while miners continued to suffer, shedding 1.5%.

Here are the opening calls

Britain's FTSE 100 is set to inch around 2 points higher to 7,556, Germany's DAX is seen around 18 points higher at 16,777 and France's CAC 40 is expected to add around 10 points to 7,537, according to IG data.

CNBC Pro: This self-driving car technology stock could pop by more than 400%, say three analysts

Shares of a driverless car technology maker could surge over 400% in the next 12 months, according to analysts at three investment banks.

The tech company already has five major partnerships in the pipeline, including luxury carmaker BMW, Volkswagen, and an unnamed Asian auto giant, representing nearly $7 billion in potential revenue over the next decade.

CNBC Pro subscribers can read more here.

— Ganesh Rao

CNBC Pro: Looking for alternatives to Nvidia? Futurum CEO names 3 he's bullish on for 2024

Nvidia made a splash in 2023, given the investor excitement around artificial intelligence.

Its stock has already surged more than 200% higher this year.

But it's not the only one worthy of mention — other companies also look set to benefit from the AI supply chain.

Daniel Newman, CEO of Futurum Research, said he would "skip past Nvidia because … a lot of people know that one." Instead, he named other top choices he's optimistic about for the next year.

CNBC Pro subscribers can read about them here.

— Weizhen Tan