European benchmarks are trading higher following a potential breakthrough in Russia-Ukraine conflict
European benchmarks traded significantly higher at the opening of a new week on Monday, extending Asian gains, as French diplomacy boosts “risk-on” trading mood.
Equity investors are reacting to promising geopolitical developments as Presidents Putin and Biden have accepted a proposal by the French of a summit over Ukraine, potentially leading to a de-escalation of the current conflict. Even if most traders remain cautious about the situation, demand for safer havens has eased while bottoms on stocks have been bought in early trading. With the lack of significant macro news today and the US shut for bank holiday, all eyes will remain on Eastern Europe as investors will need a clear breakthrough before bringing more direction to the markets.
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