European shares muted as investors assess AI outlook; banking stocks rally

European shares were subdued at the open on Monday as investors assessed the outlook for the global artificial intelligence trade following last week’s technology selloff, while banking stocks gained on merger developments and upbeat earnings.

The pan-European STOXX 600 index was largely unchanged at 648.88 points by 0810 GMT. Mining stocks led sectoral gains, rising 1.4% as precious metal prices advanced.