European stocks rose as oil prices fell and investor sentiment improved.
Meanwhile, markets are awaiting the earnings reports of major U.S. tech companies and their impact on global markets and European stocks.
European Stocks Rise as Oil Prices Fall
European stocks posted a notable gain at the start of trading on Monday.
This was driven by falling oil prices and improved investor sentiment.
This followed the announcement of a ceasefire between the United States and Iran, which boosted demand for riskier assets.
The European Stoxx 600 index rose 0.8% to 649.34 points by 07:06 GMT.
In contrast, Brent crude futures fell by about 6%, approaching the $90-per-barrel level.
This put pressure on energy sector stocks.
The energy sector index fell by 2%, along with the utilities sector.
These were the only two sectors to post losses within the European index.
In contrast, European tourism, travel, and leisure stocks led the gains.
This came as lower fuel prices bolstered positive outlooks for airlines.
Lufthansa shares rose 3.7%, IAG shares rose by the same percentage, and Ryanair shares rose 3.4%.
Leading the way were Microsoft, Meta, Amazon, and Apple, as investors sought to determine whether the artificial intelligence boom would continue to support the markets.
Among other stocks, Vodafone shares rose 3.7% after the company raised its financial forecasts.
