European Stocks Rise on Monday

European equities advanced on Monday, with the Stoxx 50 rising nearly 1% and the broader Stoxx 600 gaining 0.5% to an eight-week high.

Sentiment improved as signs of renewed diplomatic efforts between the US and Iran eased fears of further escalation, sending oil prices lower and reducing concerns about inflation.

Spain led regional gains, followed by France, Italy and Germany, while the UK underperformed as weakness in heavyweight energy stocks weighed on the FTSE 100.

Travel and leisure stocks rose more than 3%, benefiting from cheaper fuel, while construction and materials gained over 2% and autos advanced more than 1%.

Mining shares also climbed, supported by stronger commodity prices, with gold up 2.3%, silver gaining over 4% and copper rising more than 1%.

In contrast, oil and gas stocks fell over 2% as WTI dropped below $100 a barrel.

Alstom was a major underperformer, plunging more than 25% after cutting its guidance again.