Europe open: Stoxx rises as France confidence vote looms

(Sharecast News) - European stocks were xxxx at the open on Monday with a confidence vote over French budgetary plans in focus. The pan-regional Stoxx 600 was up 0.31% at 550.9 at 0813 BST. France's CAC 40 rose 0.43% ahead of the vote, while Germany's DAX increased 0.7%.

French Prime Minister Francois Bayrou is expected to lose the vote he called in response to strong opposition to his proposed €44bn worth of budget cuts aimed at lowering the country's deficit.

In economic news, German exports registered a surprise fall in July while industrial output rose, according to official data published on Monday.

Exports from Europe's biggest economy fell by 0.6% on a monthly basis, Federal statistics office Destatis said. Analysts had been expecting a 0.1% rise. Imports dropped 0.1%..

The foreign trade balance produced a €14.7bn surplus, down from €15.4bn in June and €17.7bn a year earlier.

Meanwhile, industrial production rose 1.3% in July compared to the previous month and against expectations of a 1% rise.

In China, exports rose 4.4% in August, below expectations for a 5.5% increase as the impact of US tariffs started to hit home. Imports grew by just 1.3% against an estimated 3.4%.

On the equities front, shares in retirement savings and income business Phoenix Group fell, despite the company saying it was "firmly on track" to hit its medium-term targets after a strong first half, during which profits surged by a quarter.

Ryanair fell after Goldman Sachs lowered its rating the stock, while Marks & Spencer rose as Citi lifted its rating on the UK retailer to 'buy' from 'neutral'.

Reporting by Frank Prenesti for Sharecast.com