European stocks were sharply higher on Monday as investors cheered reports suggesting that the United States is mulling lifting some tariffs on China to fight inflation.<\/p>\n
Investors and policymakers await the release of U.S. inflation data this week after EU inflation shocked many with a record high reading last week.<\/p>\n
Market participants also await a European Central Bank (ECB) policy meeting later this week for confirmation whether the central bank will raise rates at the July 21 policy meeting.<\/p>\n
The pan European Stoxx 600 rose 0.90 percent to 444.07 after closing 0.3 percent lower on Friday. <\/p>\n
The German DAX rallied 1 percent, France’s CAC 40 index jumped 1.2 percent and the U.K.’s FTSE 100 was up 1.4 percent. <\/p>\n
British Prime Minister Boris Johnson will face a confidence vote later today after a growing number of lawmakers in the governing Conservative Party questioned the British leader’s flagging authority over the “partygate” scandal.<\/p>\n
Miners Anglo American, Antofagasta and Glencore all jumped over 3 percent as London copper prices scaled to their highest in more than one month on hopes that the United States would cut tariffs on Beijing.<\/p>\n
Oil & gas firm BP Plc rallied 2.8 percent and Royal Dutch Shell climbed 2.2 percent as crude oil prices neared $120 a barrel after Saudi Arabia raised prices for customers in Asia.<\/p>\n