While U.S. and U.K markets enjoyed an extended holiday break overnight, the rest of the global markets bounced back to start the week in the green.

European stocks rose, rebounding from their first weekly loss in more than a month, as carmakers and technology companies gained. The Stoxx 600 Index climbed 0.3% to 304.3 at the close of trading. The German DAX gained a solid 78 points (+0.9%) to finish at 8383.

Crude oil for July delivery dropped for a fifth session – the longest run of declines this year – to $93.70 a barrel in New York, as China signaled it may accept a slower economic growth rate.

Gold rose, extending gains after the best week in a month, as International Monetary Fund data showed that Russia and Kazakhstan expanded gold reserves for the seventh straight month in April. Gold for immediate delivery advanced to $1394.8 an ounce.

The yen strengthened for a third session against the U.S. dollar amid concern that the Bank of Japan is struggling to control a jump in government bond yields.

The currency rose 0.2% to 101.1 per dollar in New York after jumping 1.9% last week. There is no major local economic data due out during today's session.

Morning Market Update: Quiet Session Ahead is a post from: Australian Stock Report Market Pulse Blog