European stock markets rose at the start of the week after Washington confirmed on Sunday that progress had been made in negotiations to end the war between Russia and Ukraine, with US Secretary of State Marco Rubio in attendance.
On Monday, the pan-European STOXX Europe 600 index climbed 0.45% to 564 points at 11:04 AM Mecca time.
Germany's DAX index rose 0.6% to 23,241 points, while Britain's FTSE 100 gained 0.3% to 9,567 points, and France's CAC 40 added approximately 0.4% to 8,012 points.
Investors in the region are closely monitoring the ongoing talks between the United States and Ukraine to draft a new peace plan, after the initial 28-point proposal was widely criticized for being biased towards Moscow and requiring significant concessions from Kyiv, according to CNBC.
A spokesperson for European Council President Antonio Costa said that EU leaders will meet today to discuss the Ukraine issue on the sidelines of the EU-Africa summit in Luanda, with invitations extended to leaders not attending to participate via video conference.
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