James Gruber

The Condit Y FTSE Euro First 300 index ended up 0.1% and the UK FTSE 100 added 0.4%.

Europe edged up on Monday, constrained by a drop in luxury stocks, while stalled US-Iran peace negotiations drove oil prices higher and also kept investors cautious.

Luxury stocks laid declines among sectors, falling 3.4%, on concerns that underlying demand remains weak.

LVMH lost more than 4.4%, while Omer's and Burberry fell more than 3.3% each.

Offsetting losses was a 2.6% jump in miners tracking higher precious metal prices.

Among other movers, Delivery Hero jumped more than 18% after Dutch technology investor Proces sold a 5% stock in the German food delivery group to activist investor Aspex Management for roughly €335 million.

It's now time for The Watch List.

In Australia, as mentioned, the federal budget will be handed down at 7.30 this evening.

There'll be analysis from the CBA economics team, which will be on CBA Newsroom and Socials, and we'll touch on any relevant details here on the podcast on Wednesday and beyond, and of course, the share market's reaction.

Today, there'll also be two key sentiment measures released, Westpac's Consumer Sentiment Survey and NAB's Business Confidence Survey.

In the US, the Consumer Price Index for April will be out with a 3.8% increase year-on-year tipped.

And now it's time for our one more thing segment.

Getting back to CSL after its nosedive yesterday, the stock is down nearly half since August alone and more than 70% since its peak share price of $342 in March 2020.

Believe it or not, back at its peak, it was the largest listed company in Australia for a

Today, it's 14th.

There are lots of lessons for investors from CSL's fall, though perhaps the biggest is that blue-chip stocks don't always stay that way.

And that's it for today.

The ComSec Media and Markets team is monitoring developments on today's local trading session, so check out our afternoon episode of the podcast for all the key updates.

I'm James Gruber.

Have a great day.