Market Optimism Returns

In a significant turn of events, major European stock indexes closed higher on Monday. This uptick comes as the United States and China have agreed to temporarily reduce tariffs on each other's imports, signaling a de-escalation in their ongoing trade conflict. Adding to the positive sentiment, US President Donald Trump announced a "full and comprehensive" trade deal with the United Kingdom, hinting at more such agreements in the pipeline.

Indexes on the Rise

The DAX saw a modest increase of 0.33%, while the Euro Stoxx 50 jumped by an impressive 1.58% by 5:35 pm CET. Leading the charge, Infineon Technologies surged by 8%, buoying both indexes. Across the channel, the FTSE 100 improved by 0.61%, with Standard Chartered soaring 8.71%. Not to be outdone, the CAC 40 climbed by 1.37%, thanks in part to LVMH's 6.99% rise.

Currency Movements

In currency markets, the euro depreciated by 1.21% against the dollar, trading at $1.11132 by 5:33 pm CET. Similarly, the pound weakened by 0.74% against the greenback, fetching $1.32064 at the same time.