Easing Inflation Concerns Lift European Market Sentiment

European stocks closed higher on Monday as easing concerns about inflation due to a drop in oil prices helped underpin sentiment. Hopes that diplomatic efforts will help ease tensions in West Asia contributed as well to the positive mood in the markets.

Oil prices fell sharply amid reports of diplomatic efforts to reduce tensions in West Asia. A Qatari delegation arrived in Tehran on Sunday as part of renewed diplomatic efforts to de-escalate reginal tensions in coordination with the United States.