European equities traded mostly higher on Monday after crude oil prices tumbled more than 5%, following U.S. President Donald Trump’s decision to cancel planned military action against Iran and his comments that there is a “good chance” diplomatic efforts could lead to progress in ending months of regional conflict.
Negotiators are reportedly working to resolve outstanding disagreements surrounding transit charges and the future management of the Strait of Hormuz.
Major European Indexes Move Higher
Germany’s DAX gained 1.3%, while France’s CAC 40 advanced 1.1%. In contrast, the UK’s FTSE 100 underperformed its continental peers, slipping 0.1%.
Corporate Movers
Clarkson (LSE:CKN) was among London’s strongest performers after the shipping services group announced record first-half earnings.
German industrial company Stabilus (TG:STM) also posted solid gains after reporting a significant increase in third-quarter net profit, supported by a one-off gain from the disposal of subsidiaries.
Shares of Assa Abloy (TG:ALZC) moved higher after the Swedish access solutions company agreed to acquire Gunnebo Entrance Control in a transaction whose financial terms were not disclosed.
Energy and Healthcare Stocks Under Pressure
TotalEnergies (EU:TTE) declined after announcing plans to acquire Shell’s (LSE:SHEL) European onshore renewables portfolio while simultaneously agreeing to sell a 50% interest in a separate 1.2 GW renewable energy portfolio to KKR.
Meanwhile, Sandoz (LSE:0SAN) traded lower after reaching settlement agreements with 43 U.S. states and territories, as well as indirect reseller plaintiffs, resolving all remaining generic drug pricing litigation claims.
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