European markets inch higher as new trading week get underway; luxury, mining stocks rise on China stimulus hopes

This is CNBC's live blog covering European markets.

European markets were slightly higher on Monday as the new trading week got underway, with investors weighing geopolitical turmoil.

The pan-European Stoxx 600 was trading 0.17% higher at around mid-day in London, paring back most of its earlier gains as major regional bourses and sectors traded mixed.

Elsewhere, Hong Kong stocks jumped close to 3% during the last hour of trading as China's leaders vowed "more proactive" fiscal measures and "moderately" looser monetary policy for next year, moves which could boost domestic consumption.

The announcement also buoyed European luxury stocks higher, with Gucci-owner Kering at one point rising as much as 4%.

Asia-Pacific markets were otherwise mixed overnight. South Korea's Kospi stock index fell over 2% after President Yoon Suk Yeol survived an impeachment vote over the weekend.

Traders will also be assessing geopolitical upheaval in the Middle East after the ousting of Syrian President Bashar al-Assad over the weekend. Western leaders have greeted the overthrow of the Assad dynasty by rebel forces with caution, fearing a power vacuum and more instability in the region.  

State side, stock futures were slightly lower on Monday after the S&P 500 and Nasdaq Composite posted their third straight winning week, ahead of key inflation data due Wednesday.

The November consumer price index, due out Wednesday, is expected to show a slight uptick in pricing pressures. Economists polled by Dow Jones expect a 0.3% and 2.7% monthly and yearly increase, respectively. That would be up from 0.2% and 2.6%, respectively, from the prior month.

— CNBC's Sarah Min contributed to this market summary

The pan-European Stoxx 600 traded around the flatline