European markets opened higher Monday as investors prepare for a week of key central bank meetings in the United States, Asia and Europe.

The pan-European Stoxx 600 index was up 0.5% shortly after the open, with financial services up 0.7% and household goods 0.9% higher.

Switzerland's UBS rose 0.7% after announcing it had completed the takeover of its embattled former rival Credit Suisse, which will cease trading. Under the deal terms, Credit Suisse shareholders receive one UBS share for every 22.48 outstanding shares held.

The enlarged UBS Group has a balance sheet of $1.6 trillion and a workforce of 120,000, though CEO Sergio Ermotti has warned "painful" job cuts are likely to come.

The U.S. Federal Reserve will announce its latest monetary policy move Wednesday, while the European Central Bank will follow with its decision on Thursday. The Bank of Japan's meeting will conclude on Friday.

Source : CNBC