12:11 PM EDT, 05/12/2025 (MT Newswires) -- The European stock markets closed higher in Monday trading as investors were encouraged by a 90-day truce in the US and China's trade war over reciprocal tariffs.

The Stoxx Europe 600 rose 1.14%, Germany's DAX was up 0.22%, the FTSE 100 gained 0.59%, France's CAC 40 rallied 1.37%, and the Swiss Market Index advanced 1.1%.

In the UK, the most recent report on jobs released by the Recruitment and Employment Confederation Sunday showed a continued decline in permanent staff appointments in April. Meanwhile, temporary billings decelerated at the slowest rate in four months.

And in corporate news, TotalEnergies is looking to sell 50% stakes in its French and Polish biogas production units as part of its strategy to boost returns on its investments in renewables, Bloomberg reported Monday, citing people familiar with the matter. TotalEnergies did not immediately reply to a request for comment from MT Newswires.

Shares of the French oil and gas company closed 2% higher in Paris.

The Spanish government would back a deal between Sabadell and another Spanish rival as a way to counter the unsolicited bid from Banco Bilbao Vizcaya Argentaria, Bloomberg reported Monday, citing people familiar with the matter. Banco Bilbao did not immediately reply to a request for comment from MT Newswires.

European automaker Stellantis said Monday that it is on track to begin production of its Fiat 500 Hybrid model at its Mirafiori plant in Turin before the end of the year, with a target for November.

Shares of Stellantis climbed 6.5% higher on the Parisian bourse.

British mining giant Rio Tinto said Monday it has signed final joint venture agreements with Sumitomo Metal Mining for the Winu copper-gold project in Australia.

Shares of Rio Tinto were closed up 3.7% on the FTSE 100.

Mining stocks surged in Monday's trading sessions, as Glencore was up 6.1%, Antofagasta gained 5.8%, and Anglo American rose 5.5% on the FTSE, while steel and mining giant ArcelorMittal advanced 4.8% in Paris.

Luxury goods stocks were also sharply higher as Louis Vuitton and Kering increased 7% and 5.9% respectively in Paris, while Hermes International and L'Oreal were up 3.5% and 3%. Meanwhile shares of Burberry were up 3.7% on the London Stock Exchange.

Swiss pharmaceutical company Novartis will keep manufacturing treatments for malaria and leprosy even if regular orders stop due to global health funding cuts, Reuters reported Monday, citing its global health president.

Shares of Novartis were up 0.9% on the SIX Swiss Exchange in Zurich.