Economic data out of Europe on Monday were relatively positive.
Investor confidence in the euro area rose to a seven-month high in February. The Sentix investor confidence index increased to minus 11.1 from minus 21.1 in January.
In Germany, factory orders rose 1.7 percent in December.
However, the talks on Greece's bailout drags on as the parties involved failed to reach agreement on Monday. Reuters reports:
German Chancellor Angela Merkel told Greece Monday to make up its mind fast on accepting the painful terms for a new EU/IMF bailout, but the country's political leaders responded by delaying their decision for yet another day...
The office of Prime Minister Lucas Papademos, a former central banker who heads a government of politicians, said a meeting of leaders from the conservative, socialist and far-right parties due Monday had been postponed to Tuesday.
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