European shares rise on lower oil prices, bank strength ahead of earnings

European equities rose on Monday, with bank stocks leading the gains after crude values dropped on optimism over a possible energy truce between Russia and Ukraine, according to Business Recorder. The pan-European STOXX 600 index advanced 0.43 per cent to 634.25 points by 0709 GMT. Spain's IBEX, which carries a large weighting in lenders, jumped 1.3 per cent, the biggest gain among regional peers.

Crude prices slid as traders anticipated greater Russian supply after Donald Trump said Kyiv and Moscow had agreed to stop strikes on each other's energy sites, a development that followed a deal on diesel shipments between the US and Russia. Eurozone bond yields also declined, adding support for riskier assets. Attention now turns to earnings as investors look for signs of company health amid geopolitical uncertainty and higher borrowing costs, with LVMH reporting after the European close and ASML and EQT due later this week. Separately, Nordex climbed 2.5 per cent after the wind turbine maker said its third-quarter project order intake grew 30 per cent year on year.