Major European Markets Close On Firm Note Despite War Concerns

Despite weak Eurozone economic sentiment data and the ongoing war in the Middle East, European stocks gained some significant ground in positive territory on Monday. The upmove was supported by some bargain hunting at several counters following recent declines.

As the joint U.S.-Israeli war on Iran stretched into its second month, French central bank chief Francois Villeroy de Galhau said the European Central Bank is ready to act, but it is too early to discuss the timing of any rate hike.