This is CNBC's live blog covering European markets.

European markets saw a cautious start Monday following a strong week, as the slew of third-quarter earnings slows down.

The regional Stoxx 600 index closed 0.1% higher after moving either side of the flatline through the morning. Food and beverage stocks ended the session 0.5% lower while as oil and gas stocks led gains, up 1.3%.

German pharmaceutical firm Bayer plunged around 18% after announcing late Sunday it had stopped trials of a new anti-clotting drug due to "lack of efficiency."

Figures showed inflation coming down sharply, with U.K. price rises slowing to 4.6% in October from 6.7% in September. Euro zone inflation was confirmed at 2.9%, down from 4.3% the previous month.

U.S. inflation came in flatter than in September, cooler than estimates. Expectations that the Federal Reserve is finished with rate hikes powered solid U.S. stock gains last week, as the S&P 500 and Dow Jones Industrial Average marked a three-week positive streak.

The U.S. dollar fell to a two-month low Monday, according to Reuters, as bets on a rate cut as soon as March intensify.

In Asia-Pacific markets, Japanese stocks briefly hit a 33-year high during Monday's session, though they shed some gains. Investors also monitored news that China left its benchmark lending rates unchanged.

U.S. stocks were higher Monday, as Wall Street started the shortened Thanksgiving holiday week.

U.S. stocks open flat

U.S. stocks opened little changed Monday, as Wall Street started the shortened Thanksgiving holiday week.

The Dow Jones Industrial Average and the S&P 500 were up less than 0.1% in early deals, while the Nasdaq Composite was 0.4% higher.

— Karen Gilchrist

It’s been a ‘crazy week’ for oil, says Amrita Sen — here’s why

Amrita Sen, founder and director of research at Energy Aspects, discusses the factors behind oil's whipsaw week and her outlook for the commodity in 2024.

Oil futures rise on prospect of OPEC+ cuts

Oil futures were higher Monday, extending strong gains on Friday powered by the prospect of further OPEC+ supply cuts to support prices amid Middle East turmoil, analysts said.

International benchmark ICE Brent Crude futures dated January 2024 were 1.6% higher at midday London time at $81.89 a barrel. WTI Crude futures for January were also up 1.6%, to $77.26.

— Jenni Reid

Stocks on the move: Diploma, Ocado up; Bayer, Julius Baer down

British business solutions company Diploma topped European stock gainers Monday morning, after its third-quarter results beat expectations from a company-compiled consensus.

The firm said it expected a full-year operating margin of 19.7%, up from a consensus of 19.3%.

Grocery delivery firm Ocado was up 6%.

At the bottom of the Stoxx 600 index, pharmaceutical giant Bayer plunged 19% after announcing it ditched a large late-stage trial of an anti-clotting drug because of a "lack of efficacy."

The company faced a double blow Sunday as a U.S. court ordered it to pay out $1.56 billion to a group of plaintiffs who alleged a weedkiller product had caused injuries, including cancer.

Shares of Swiss bank Julius Baer slid 11% on an 10-month update in which it reported a 3% rise in assets under management and said it had booked valuation adjustments of 82 million Swiss francs ($92.8 million).

— Jenni Reid

Europe stocks start week mixed

European stocks were mixed early Monday, with the Stoxx 600 down 0.09% at 8:33 a.m. in London.

The U.K.'s FTSE 100 and Germany's DAX were 0.3% and 0.2% lower, respectively, while France's CAC 40 was 0.2% higher.

Retail stocks led gains, up 0.75%, on a week in which strong sales are expected as consumers snap up Black Friday sales.

— Jenni Reid

Europe stocks head for muted open

European stocks will open mixed Monday, according to IG data.

The FTSE 100 is on course to slip 6.5 points to 7,497, France's CAC 40 to rise 4.5 points to 7,240 and Germany's DAX to drop 9 points to 15,913.

— Jenni Reid

CNBC Pro: Will the 'Magnificent Seven' have another good run in 2024? Morgan Stanley's Mike Wilson weighs in

Much of the gains in the S&P 500 this year can be attributed to the "Magnificent Seven" stocks.

The group comprises Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia and Tesla, some of which have benefited from the buzz around artificial intelligence

But can the Magnificent Seven continue to beat the market in 2024? Mike Wilson, chief U.S. equity strategist at Morgan Stanley, weighs in — and shares how to invest in 2024.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Nikkei 225 briefly touches 33-year highs, highest since May 1990

Japan's Nikkei 225 briefly touched 33 year highs on Monday morning, with the benchmark Nikkei 225 reaching an intraday a high of 33,848.98.

This surpassed the previous high of 33,753 seen on March 7, and its the highest level since May 1990.

However, the index soon fell after surpassing the high, recording a 0.07% loss compared to its last close.

— Lim Hui Jie

China keeps one-year and five-year loan prime rates unchanged for November

China's central bank has held its one-year and five-year loan prime rates at 3.45% and 4.2% for November.

This is the third straight month that the People' Bank of China has held the one-year LPR after lowering it from 3.55% to 3.45% in August.

The five year LPR meanwhile, has been held at 4.2% for five consecutive months, having been last lowered in June from 4.3%.

— Lim Hui Jie

CNBC Pro: Time to buy the dip in Alibaba shares after the stock tanked? Here’s what analysts say

Shares of Chinese e-commerce giant Alibaba tumbled after the company scrapped plans to spin off and list its cloud computing business.

While investors have largely reacted negatively to the company's decision, some on Wall Street have welcomed the move.

CNBC Pro subscribers can read more about what analysts at Morgan Stanley, JPMorgan, Bernstein and Barclays are saying about Alibaba here.

— Ganesh Rao