European stocks began the week on a subdued note, lingering at their lowest levels in over a fortnight as investors tread carefully in anticipation of the European Central Bank's (ECB) upcoming policy decision, Reuters reported on Monday. The pan-European STOXX 600 index was trading unchanged as of 07:13 GMT on Monday. The focal point for investors is the ECB's monetary policy meeting on Thursday, set against a backdrop of worldwide apprehension about the timing of interest rate reductions. Market participants broadly anticipate the central bank to maintain its current interest rates, but they will be on the lookout for any indications that a first rate cut of 25 basis points might be on the horizon for June. Germany's DAX slightly outpaced the rest of the European stock market, buoyed by the industrial sector following data that revealed a greater-than-expected rise in industrial production in February, aided by the construction industry's performance. Zalando shares soared 4.3 per cent, topping the STOXX index, after Citigroup upgraded the German online fashion retailer's rating from "neutral" to "buy."