US-Iran talks bring a ray of hope to boost market sentiment, European stocks rise to more than a two-month high.

Boosted by positive signals from Iran and the US negotiating to end conflict, European stock markets opened higher on Monday, reaching their highest levels in over two months. Concerns about inflation pressure and global economic slowdown have eased. As of the time of writing, the pan-European STOXX 600 index rose by 0.61% to 629.60 points, just a step away from the historical high set at the end of February before the outbreak of the Middle East conflict. Most sectors recorded gains, with banking stocks leading the way with an increase of around 1.7%. Regional airlines performed strongly as Brent crude oil prices fell by 5% to $96 per barrel, with Lufthansa and Air France-KLM both surging. While US President Trump warned that he is not in a hurry to finalize a deal with Iran, investors seem to be more inclined to believe his statement from last Saturday - that the US and Iran have "basically agreed" on a memorandum of understanding for a peace agreement, which is expected to reopen the Strait of Hormuz. However, specific details on key disagreements such as Iran's nuclear program still lack clarity. Approximately one-fifth of the world's oil and natural gas passes through this strategic waterway, making it crucial for energy-import dependent Europe. Earlier, concerns about rising oil prices exacerbating inflation pressure in the region had kept the pan-European STOXX 600 index behind other major global markets. In individual stock news, Delivery Hero's stock price jumped by 12%. It was reported that the board of Uber Technologies, Inc. had met on Saturday to discuss increasing their acquisition bid for the German food delivery group. Previously, a major shareholder of Delivery Hero had rejected a takeover proposal valuing the group at over 11.5 billion euros (approximately 13.39 billion US dollars). Due to public holidays in the US and the UK markets, trading is expected to be lighter today.