European Stocks Rise on Biden-Putin Summit

EUROPE : stocks were higher on Monday, with the Dax adding almost 1% and the Stoxx 600 around 0.5% after US President Biden and Russian President Putin agreed in principle to meet to discuss the Ukrainian crisis.

following talks this week between Secretary of State Antony Blinken and Russian Foreign Minister Sergey Lavrov. The news raised expectations a diplomatic solution can be reached, although volatility is set to continue as the Kremlin has not confirmed

the meeting yet and it is still uncertain whether a final agreement can be found. On the data front, traders will also keep an eye on fresh flash PMIs for an update on the economic recovery in Europe while inflationary pressures continue to weigh on the economy.

The PPI in Germany increased at a new record in January. On the corporate front, Credit Suisse shares were slightly lower after reports that the bank had suspected clients that included criminals.