European stocks start the week in positive territory as markets look to regain momentum; FTSE nears record high

This is CNBC's live blog covering European markets.

European markets started the new trading week on a positive note Monday, following more uncertain sentiment last week amid continuing Middle East tensions and a repricing of interest rate expectations.

The benchmark Stoxx 600 index was up 0.5% by 1:40 p.m. London time, with the majority of sectors trading in the green. Telecoms stocks led gains, up 1.8%, while autos sunk 0.9%.

Shares of Portugal's Galp Energia soared to a 16-year-high, rising 17% in morning trade after the oil and gas company announced positive prospects for its gas exploration project in Namibia.

The U.K.'s FTSE 100 was on track for its fourth daily gain Monday, rising 135 points or 1.7% to trade at 8030 points on hopes of a forthcoming interest rate cut from the Bank of England. The index is currently just 39 points shy of its all-time high hit in February 2023.

— Karen Gilchrist

Shares of Portugal's Galp Energia soared to a 16-year-high, rising 17% in morning trade after the oil and gas company announced positive prospects for its gas exploration project in Namibia.

Meantime, shares of British biopharma firm Sartorius Stedim fell 2.6% as it struggled to pare losses after reporting a fall in first-quarter sales and net income last week.

— Karen Gilchrist

European stocks opened higher Monday, with the benchmark Stoxx 600 index up 0.5% by 8:05 a.m. London time.

The U.K.'s FTSE 100 climbed 1.1%, while France's CAC 40 was 0.5% higher and Germany's DAX was up 0.7%.

— Karen Gilchrist

Global stock markets may be coming under pressure from geopolitical tensions and sticky inflation — but one portfolio manager sees potential in several stocks.

"There are always investment opportunities to be found in all market