12:09 PM EDT, 03/23/2026 (MT Newswires) -- European stock markets were tracking sharply higher in Monday trading after President Donald Trump postponed for five days strikes he had threatened against Iran's power infrastructure if the Strait of Hormuz isn't opened up.

The Stoxx Europe was rising 1.6%, Germany's DAX was advancing 2.2%, the FTSE 100 was ahead 0.6%, France's CAC was up 1.8%, and the Swiss Market Index was 1.3% higher.

Bank, automotive, and mining stocks surged higher on the European bourses Monday.

Lenders HSBC and Barclays were rising 4.2% and 4%, respectively, on the FTSE 100, while Societe Generale and BNP Paribas were gaining 5.6% and 2.4%, respectively, in Paris. Commerzbank and Deutsche Bank were up 4.8% and 2.4%, respectively, in Frankfurt, while Banco Santander and Banco Bilbao Vizcaya Argentaria were moving 5.6% and 4.3% higher, respectively, in Madrid.

Automakers Daimler Truck Daimler and BMW were up 3.3% and 3.1%, respectively, in Frankfurt, while Mercedes Benz Group was rising 2.9%. In Paris, Stellantis and Renault were advancing 3.3% and 2.4%, respectively, while Ferrari was climbing 4.5% higher in Milan.

Mining companies Antofagasta and Anglo American were surging 7.5% and 6.5%, respectively, in London, while ArcelorMittal and Heidelberg Materials and were tracking 7% and 5% higher in Paris and Frankfurt, respectively.