India, March 3 -- European markets closed higher on Monday, led by strong gains posted by defense stocks amid rising prospects of increased military spending by European countries.
British Prime Minister Keir Starmer announced on Sunday that European leaders had agreed to draft a peace plan for Ukraine to present to the US, after a meeting between Donald Trump and Volodymyr Zelensky ended disastrously.
Investors also bet on a rate cut by the European Central Bank this week.
Worries about fresh tariffs by the Trump administration lingered but that did not deter investors from picking up stocks.
Defense stocks such as Rheinmetall, Thyssenkrupp, Airbus, BAE Systems, Rolls-Royce Holdings, Dassault Systemes and Thales posted strong gains.
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