European stocks started the week in positive territory, with the STOXX 50 rising 0.9% and the STOXX 600 adding 0.6%, as traders geared up for the upcoming earnings season and largely brushed off trade tensions between the US and China.
Following Friday's threat by Washington to raise tariffs on China in response to Beijing's rare earth export controls, US President Trump said on Sunday that the "China situation will all be fine."
Meanwhile, ASML and LVMH are among the major companies scheduled to release quarterly results this week. On the political front, French President Macron announced a new cabinet, reappointing Prime Minister Lecornu.
Megacaps traded mostly higher, including SAP (+0.7%), LVMH (+1.2%), ASML Holding (+2.6%), and Hermès (+1.8%). Also, shares of AstraZeneca rose 0.7% after the drugmaker reached an agreement with the US administration on Friday to provide certain medicines to the government's Medicaid program at discounted prices in exchange for tariff relief.
Source: Trading Economi
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