European Stocks Close Firmly Higher
European stocks closed firmly higher on Monday, halting five straight sessions of losses as softer concerns that hostilities between Israel and Iran would hamper the global economy lifted equities worldwide.
Reports indicated that Tehran was willing to resume nuclear talks with the United States to signal its willingness to de-escalate the exchange of strikes with Israel, raising hopes that the conflict will refrain from hampering global economic activity and energy prices.
Markets also positioned for major monetary policy decisions this week, headlined by the BoE, SNB, Riksbank, Norges Bank, and Fed and BoJ outside Europe.
Banks led the gains as bond yields declined, with Santander, BNP Paribas, Intesa Sanpaolo, and UniCredit adding Between 2.5% and 3%. Tech also rallied, with Adyen and Nokia jumping between 2% and 3%. Lastly, Kering surged 12% on expectations that Renault's CEO de Meo may join the luxury giant.
Source: Trading Economics