European markets gain on Iran talks and Starmer exit

European stocks rose on Monday amid assessments of US-Iranian talks regarding the resumption of navigation in the Strait of Hormuz and the resignation of British Prime Minister Kier Starmer, with the Stoxx 600 index closing up by 0.6%. The market saw gains in the banking sector, with shares of banks such as Barclays and Standard Chartered increasing. It is also expected that power will be transferred smoothly in Britain to Andy Burnham. Additionally, agreements between Washington and Tehran regarding a roadmap for a peace deal led to oil prices falling below $80, amid ongoing uncertainty about the situation in the Strait of Hormuz.

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