Europe close: Stocks manage higher close, but just barely
Stocks on the Continent managed to finish in the black - but just barely - thanks to some constructive remarks at the weekend from various top US officials regarding the ongoing trade spat with Beijing, but are well off their earlier highs.
In remarks to Fox News and NBC on Sunday, the White House's top economic and trade advisers indicated that Washington was moving forward in a measured way with China and were hoping to avoid a trade war.
By the closing bell, Germany's benchmark Dax index was up by 0.17% or 20.48 points at 12,261.75 alongside a gain of 0.62% or 60.0 points to 9,742.80 for Spain's Ibex 35, together with an advance of 0.10% or 5.15 points for the French Cac-40 to 5,263.39.
Nevertheless, the response from some Chinese officials was not very conciliatory.
Speaking to Market News International on the sidelines of the Boao Forum, Chinese central bank adviser Fan Gang said the escalating attacks against China over trade could be motivated by an attempt to suppress the country's rise.
Back in Europe meanwhile, at the presentation of the European Central Bank's annual report, vice-president Vitor Constancio warned that existential threats to the euro still existed.
For his part, wrting in the report, ECB chief Mario Draghi said "a patient, persistent and prudent monetary policy therefore remains necessary to ensure that inflation will return to our objective."
To take note of as well, it was reported that Italy's centre-right alliance would present a united front in talks with President Sergio Mattarella, pressing him for the premiership - possibly reducing the chances of a coalition government between the League and the five star movement.
Still on the economic calendar for later in the day was a speech from ECB chief economist Peter Praet at 1845 BST.
Also on the economic front, earlier Germany's Ministry of Finance reported that the country's trade surplus slipped from €21.2bn for January to €19.2bn in February (consensus: €20.1bn), as exports shrank by 3.2% month-on-month.
In reaction, Claus Visten, chief euro area economist at Pantheon Macroeconomics told clients: "Exports probably rebounded in March, but these data adds to the evidence that the German economy hit a brick wall in Q1."
Meanwhile, in company news, shares of Deutsche Bank were still moving higher after the lender named Christian Sewing as its new boss, replacing John Cryan.
However, analysts at Credit Suisse cut their target price on the lender's shares on the news, from €15 to €13, in part due to the increased strategic uncertainty around the lender after it chose a retail banker to the top post.
Shares of Novartis were dipping, and at their lows of the session, after the company unveiled plans to acquire US-based rival AveXis Inc. for $8.7bn.
Elsewhere, Deutsche Post's finance chief was quoted in the local press saying its freight unit needed to make significant improvements if it wanted to reach its 2020 targets.