LONDON — European stocks saw a muted open but remained in positive territory as global markets continued to react positively to the U.S. Federal Reserve's interest rate cut last week.

The pan-European Stoxx 600 index opened modestly higher, up just 0.06% at the open, with oil and gas, telecoms, technology and banks seeing the best open Monday.

Global markets continue to trade higher following the Fed's 50-basis-point cut last week, its first cut in four years. Asia-Pacific markets were mostly higher overnight as investors digested monetary policy decisions from Japan and China as well as the Fed's sharp cut.

Dow futures were near flat Sunday night after enthusiasm for last week's interest rate cut propelled the blue-chip index to a record closing level.

In Europe Monday, preliminary French, German and U.K. purchasing managers' index data will be in focus. There are no major earnings releases.

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