European stocks traded sharply higher Monday after the U.S. and China agreed a 'phase one' trade deal, offering some optimism for risk assets.
The pan-European Stoxx 600 closed higher by almost 1.5% to 418.10 during trade, surpassing 418 to hit an all-time high. Basic resources led the way with 2.3% gains as all sectors and major bourses traded firmly in positive territory.
Washington and Beijing announced on Friday that an agreement had been reached pending legal procedures, a significant step forward after a bruising 18-month trade war.
Source : CNBC