In European Equity Markets the pan-European Stoxx 600 closed 0.12 percent higher with most sectors and major bourses in positive territory. Media stocks were the top performers on Monday, with WPP leading the sectoral gains. The advertising giant presented higher-than-expected net sales in the first quarter of the year, despite the exit of its founder Martin Sorrell. The stock jumped 8.6 percent. Retail stocks also climbed following news that Asda and Sainsbury’s will merge in a roughly £15 billion ($20.67 billion) deal. Sainsbury’s shares were up by more than 14.5 percent. Competitor supermarket Tesco traded almost 1 percent lower.

In Currency Markets weaker-than-expected German data hurt the euro against the U.S. dollar on Monday, with investors further unwinding short positions on the greenback that were based on assumptions that the European Central Bank was nearer to unwinding its stimulus. The dollar last week enjoyed its biggest weekly gain in more than two months. The euro dropped 0.44 percent to $1.2075 , not far from its three-month lows last week of $1.2110. The dollar index rose 0.37 percent to 91.874 , but held below Friday’s high of 91.986, its strongest level since Jan. 11. Investors are also focused on Friday’s employment report for April for further indications of the strength of the U.S. economy.

In Commodities Markets oil steadied on Monday, paring early losses after Israeli Prime Minister Benjamin Netanyahu said he would make an announcement later in the day about the nuclear deal with Iran. Brent prices have gained around 6 percent this month, buoyed by expectations the United States will renew sanctions against Iran, which is the third-largest producer within OPEC. Brent crude futures were last down 2 cents at $74.62 a barrel, up from a session low of $73.47. U.S. West Texas Intermediate (WTI) futures were last down 9 cents on the day at $68.01 a barrel, having recovered from an intra-day low of $67.17.

In US Equity Markets stocks rose on Monday as strong earnings reports from McDonald’s and a slate of merger announcements lifted sentiment, while inflation worries were kept in check after tepid data on U.S. income and spending. McDonald’s jumped 5.3 percent after the world’s biggest fast-food chain by revenue topped analysts’ forecasts for profit and sales. The S&P 500 was up 0.16 percent, at 2,674.29 and the Nasdaq Composite rose 0.11 percent, at 7,127.54. Healthcare stocks were a drag, led by Celgene’s 6 percent fall after Morgan Stanley noted it expects delay of up to three years for the company’s key multiple sclerosis drug.

In Bond Markets the U.S. Treasury yield curve flattened on Monday for a third straight session, as a slew of data that missed expectations, fanned some concerns about slowing growth in the world’s largest economy. The yield gap between U.S. 5-year notes and U.S. 30-year bonds narrowed to 27.20 basis points, the lowest spread in more than six years. The other benchmark measure, the spread between U.S. 2-year and 10-year notes, was also flatter at 45.60 basis points , the narrowest in two weeks. U.S. 10-year yields slipped to 2.949 percent from 2.957 percent late on Friday. U.S. two-year note yields, meanwhile, were slightly higher at 2.492 percent from 2.484 percent on Friday.