The pan-European STOXX 600 was firm at 510.73 points as of 0809 GMT, with technology stocks among the top sectoral decliners down 0.6%.
STMicroelectronics, Europe’s largest chipmaker by revenue, fell 1.9% after Morgan Stanley downgraded its rating on the stock to “underweight” from “equal weight.”
Basic resources led the gains early in the session, rising 0.5% as base metal prices advanced, while energy stocks also added 0.5% as crude oil prices rose on OPEC+’s decision to delay plans to increase production.
With opinion polls too close to call a clear winner between Republican nominee Donald Trump and Vice President Kamala Harris, all eyes are now on the November 5 US election.
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Among individual stocks, Schneider Electric fell 1% after the French industrial giant said it ousted CEO Peter Herweck with immediate effect.
The UK’s Burberry jumped 4.6% over the weekend, on reports that Italy’s Moncler may consider a bid for the luxury firm. Moncler fell 1.3%.
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