European stocks closed mostly higher on Monday, remaining relatively close to the record highs touched last week as markets positioned for key earnings releases this week. The STOXX 50 rose 0.3% to close at 5,675 and the STOXX 600 inched above the flatline to 572. Autos were among the top performers in the Eurozone after China stated it would consider exemptions for Nexperia chip exports, key for auto production, supporting Mercedes Benz, Volkswagen, BMW, and Stellantis to rise between 0.9% and 2.3%. Meanwhile, Rheinmetall jumped 4% ahead of its earnings report. Conversely, Ferrari lost over 2% ahead of its report this week on fresh broker downgrades, while Campari fell over 3% after Italian tax authorities seized $1.5 billion in shares from its controlling holding company amid an alleged tax evasion probe. Lastly, BNP Paribas slipped 1.6% as it prepares to raise Additional Tier 1 capital for the 1st time since its failed bid for Banco Sabadell.