LONDON: Europe's major stock markets declined Monday in the absence of major corporate or economic data, as investors awaited all-important US inflation numbers later in the week, dealers said.

London stocks dipped 0.1 percent at midday, while Frankfurt fell 0.2 percent and Paris dropped 0.3 percent in early afternoon eurozone trade.

Oil prices flattened as traders mulled the supply-side impact of ongoing unrest in Kazakhstan, which is a member of the enlarged OPEC+ producers' grouping.

"With a quiet start to the week for big corporate and economic announcements, markets could remain in a holding pattern until Wednesday when US inflation figures will reveal just how acute inflationary pressures are in the world's largest economy," said AJ Bell investment director Russ Mould.

Traders will be keeping a watch on inflation readings out of both the United States and China this week as they try to assess the outlook for the global economy with rocketing energy costs and supply snarls compounding problems caused by the fast-spreading Omicron Covid variant.

Most Asian markets rose Monday with traders brushing off a negative pre-weekend performance on Wall Street.

Asian markets swing as traders weigh Fed tightening, inflation

US data Friday showed that fewer new jobs than expected were created last month but that wages saw a strong gain, keeping pressure on the Federal Reserve in its battle against inflation.

The closely watched non-farm payrolls figure on Friday came in well short of forecasts, marking a disappointing end to the year.

Fed officials are now faced with the problem of having to adjust monetary policy to rein in prices while at the same time avoid damaging the economic recovery and causing a panic on markets as the cheap cash that has fuelled a near-two year rally is removed.

The bank has already started tapering its vast bond-buying programme put in place at the start of the pandemic and has signalled it could start lifting interest rates from record lows from March, with some observers predicting three hikes this year.

There were also indications officials were considering reducing its massive bond holdings, putting further upward pressure on lending costs.

The yield on 10-year Treasuries, a key indicator of future interest rates, climbed last week at its fastest pace in almost a year.

Separately on Monday, the International Monetary Fund warned that emerging economies should prepare for possible rough times as the Fed prepares to hike rates and Covid continues to hit global growth.

Key figures around 1210 GMT

London - FTSE 100: DOWN 0.1 percent at 7,481.34 points

Frankfurt - DAX: DOWN 0.2 percent at 15,916.95

Paris - CAC 40: DOWN 0.3 percent at 7,197.12

EURO STOXX 50: DOWN 0.3 percent at 4,293.44

Hong Kong - Hang Seng Index: UP 1.1 percent at 23,746.54 (close)

Shanghai - Composite: UP 0.4 percent at 3,593.52 (close)

Tokyo - Nikkei 225: Closed for a holiday

New York - DOW: FLAT at 36,231.66 (close)

Euro/dollar: DOWN at $1.1331 from $1.1360 late Friday

Pound/dollar: UP at $1.3590 from $1.3588

Euro/pound: DOWN at 83.34 pence from 83.61

Dollar/yen: DOWN at 115.24 yen from 115.56 yen

Brent North Sea crude: FLAT at $81.74 per barrel

West Texas Intermediate: DOWN 0.1 percent at $78.83