This is C온라인카지노사이트's live blog covering European markets.

European stock markets closed higher Monday following the that the U.S. and China had agreed to slash tariffs.

The Stoxx 600 closed up by 1.1% provisionally, with mining stocks rallying nearly 5% to lead the gains. The U.K.'s was 0.6% higher as France's  40 moved up 1.4% and Germany's climbed 0.2%.

U.S. Treasury Secretary Scott Bessent said on Monday that talks with China had been "very productive."

The agreement to suspend most tariffs for 90 days shows a thawing of trade tensions between the world's two largest economies.

opened sharply higher and rose as a result of comments from the White House on Sunday that a "trade deal" with China had been reached.

— C온라인카지노사이트's Amala Balakrishner contributed reporting to this market summary

European stocks close higher

European stocks closed higher Monday following news that the U.S. and China had reached an agreement to cut tariffs.

The Stoxx 600 climbed 1.1% with mining stocks rallying nearly 5% to lead the gains.

The U.K.'s was 0.6% higher as France's  40 moved up 1.4% and Germany's climbed 0.2%.

— Ryan Browne

U.S. stocks open higher

Stocks opened higher on Monday, with investor appetite for risk assets growing following a cooling of trade tensions between the U.S. and China.

The Dow Jones Industrial Average gained 975 points, or 2.3%. The Nasdaq Composite popped 3.7%, while the S&P 500 added 2.7%.

— Brian Evans

Pharma stocks drop after Trump announces drug pricing plans

The Stoxx Pharmaceuticals and Biotechnology index had dropped 2.75% by 1:54 p.m. in London, making it one of the worst-performing sectors in Europe on Monday.

The moves came in the wake of U.S. President Donald Trump announcing he would sign an executive order on Monday morning to immediately slash prescription drug prices in America.

"Prescription Drug and Pharmaceutical prices will be REDUCED, almost immediately, by 30% to 80%. They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA!" he said in a on his Truth Social platform.

European pharma stocks fell with giants down 3%, down 1.9%, down 3.8% and down 3.6%.

Novo's stock also edged lower after a trial found that 's Mounjaro was a more effective weight loss drug than 's blockbuster treatment Wegovy. The results of the trial, which were funded by Eli Lilly, were presented at a conference in Malaga, Spain, the .

— Chloe Taylor

Bessent says he expects to meet with China again in 'next few weeks'

U.S. Treasury Secretary Scott Bessent on Monday said he expects to continue talks with China in the near-term to iron out a more concrete trade agreement.

"I would imagine in the we will be meeting again to get rolling on a more fulsome agreement," Bessent told C온라인카지노사이트's "" on Monday.

— Brian Evans

UniCredit CEO says bank will not be pressured into M&A as questions hang over BPM, Commerzbank bids

The CEO of told C온라인카지노사이트 on Monday that the bank was still weighing its options regarding takeover bids for fellow Italian lender and Germany's , but would not be swayed by expectations.

"We have a base case, standalone base case, that I think is unbeatable in the next three years from a distribution standpoint and from an EPS growth standpoint. So we're not going to affect that negatively for anything, and much less on M&A pushed by the pressure that always builds up when you get [to] this point," Andrea Orcel told C온라인카지노사이트's "."

"At this point, I think we are in control. On BPM we are reviewing the situation, post the value-destructive deal on Anima and the demands of the golden power, and we haven't made up our mind yet," he said.

UniCredit for Banco BPM last November, a move last month. Orcel has previously said the deal could be withdrawn if agreed to pay a higher price in their own takeover bid for fund manager Anima, action they . UniCredit has also by Italian authorities.

Discussing UniCredit's , Orcel told C온라인카지노사이트: "We're exactly where we thought we would be."

"We've always kept Commerzbank informed from the beginning... We asked for all the authorization. We almost got them all, and we said that at that point we would pause and with patience, wait to engage with a new government and with Commerzbank in a constructive discussion."

"If a deal is possible, we will pursue, if it's not possible, we will reassess where we are."

— Jenni Reid

UniCredit shares jump to 2011 high after first-quarter profit beat

Shares of were up 3.5% at 10:00 a.m. in London, trading at their highest level since May 2011 after the Italian lender posted higher-than-expected first quarter net profit.

JPMorgan analysts led by Delphine Lee highlighted the bank's stronger revenues, particularly in fees and trading, and said they expected low single-digit earnings per share (EPS) consensus upgrades as a result.

— Jenni Reid

Shipping giant Maersk rises 13% on U.S.-China deal to cut tariffs

shares shot up 13% on Monday after the U.S. and China agreed to temporarily suspend most tariffs on each other's goods.

The share price of the shipping giant had declined by about 4.6% this year, ahead of the news that suggested a major thawing of trade tensions between the world's two largest economies.

Other stocks in the rising more than 5% include Danish electronics manufacturer , footwear maker , building materials firm and mining giant .

— Ganesh Rao

U.S. and China suspend most tariffs in dramatic thawing of tensions

The U.S. and China on Monday agreed to suspend most tariffs on each other's goods in a move that shows a major thawing of trade tensions between the world's two largest economies.

The trade agreement means that "reciprocal" tariffs between both countries will be cut from 125% to 10%. The U.S.' will remain in place, meaning total tariffs on China stand at 30%.

"We had very productive talks and I believe that the venue, here in Lake Geneva, added great equanimity to what was a very positive process," U.S. Treasury Secretary Scott Bessent said in a news conference.

— Sam Meredith

UniCredit beats estimates for the 12th consecutive quarter

beat profit expectations in the first quarter of 2025, marking the 12th consecutive time the bank has topped estimates.

The Italian lender reported net profit of 2.77 billion euros ($3.11 billion), against the median analyst forecast of 2.34 billion euros, according to LSEG data.

The bank also raised its full-year net profit guidance to 9.3 billion euros, which could take its return on tangible equity to more than 17%. UniCredit had previously expected net profit and RoTE to be "broadly in line" with the previous financial year.

— Ganesh Rao

Bitcoin falls, but remains above $100,000 threshold

slid on Monday, above the $100,000 threshold.

The cryptocurrency was down 0.42% to $103,859.94 as of 11.39 a.m. Singapore time.

The latest move is a reversal from its fast gains in the last week, which pushed investors to forecast that it will soon hit its record high of $109,000, which happened at the end of January.

— Amala Balakrishner

Spot gold sinks as investors cheer progress in U.S.-China trade talks

plunged Monday as investors cheered early signs of progress in trade talks between the U.S. and China.

As at 9.20 a.m. Singapore time, the bullion was trading 1.85% lower at $3,262.29 per ounce.

The latest moves in the precious metal — which is a traditional hedge against political and financial instability — is a reversal from the 2.6% gain it notched the week before as investors sought refuge in it.

— Amala Balakrishner

European markets: Here are the opening calls

European markets are expected to start the new trading week on a positive note.

The U.K.'s index is expected to open 35 points higher at 8,586, Germany's up 192 points at 23,688, France's  70 points higher at 7,785 and Italy's 366 points higher at 39,139, according to data from IG.

Earnings come from Unicredit on Monday.

— Holly Ellyatt