BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks surged to hit multi-week highs on Monday amid continued optimism around the trajectory of talks to end the Iran war.
Oil prices fell nearly 6 percent, helping ease inflationary concerns after reports emerged that the U.S. is close to reaching a deal with Iran that would end the three-month-old war, reopen the Strait of Hormuz and see Iran give up its stockpile of highly enriched uranium.
The pan-European STOXX 600 jumped 0.7 percent to 629.50 in thin trade, with the U.S. and U.K. markets closed for public holidays.
The German DAX surged 1.2 percent and France's CAC 40 gained 1.2 percent.
Banks traded sharply higher, with Commerzbank, UniCredit and BNP Paribas all rising around 2 percent.
Delivery Hero shares soared more than 10 percent. The German food delivery group has confirmed that it had received a takeover offer from Uber of €33 per share.
Ericsson rallied 2.6 percent. The Swedish telecom gear maker has announced the decision to relocate its Stockholm operations, including its headquarters, from Kista to Hagastaden on the northern city boundary.
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