India, May 12 -- European stocks closed on a firm note on Monday, with the German market hitting a new record high, and the French market climbing to a six-week high, as the mood remained quite bullish across the region as the U.S. and China agreed on a trade deal over the weekend.
Following negotiations in Switzerland over the weekend, the world's largest and the second-largest economies have agreed to suspend most tariffs on each other's goods for 90 days, and slash rates going forward.
As per the announcement by the two countries, the U.S. tariffs on Chinese goods will fall to 30% from 145% while Chinese duties on U.S. imports will fall to 10% from 125%.
Investors also looked ahead to some crucial UK economic data this week, including...