By Anna Isaac
-- Stoxx Europe 600 gains 0.6%
-- U.S. 10-year Treasury yields tick higher
-- Asian indexes broadly rise
Global stocks climbed after the U.S. moved to rekindle stalled trade talks with China.
President Trump met with major technology companies at the White House on Monday to discuss restrictions on Chinese telecom giant Huawei, a move seen as a step toward softening the U.S. stance on the blacklisted firm.
In Europe, shares of trade-sensitive auto-related companies led gains. Faurecia SA, an auto parts maker, had the biggest gain in the region at 9.2%, after posting better-than-expected results in its Chinese and South American operations, according to UBS. Daimler AG rose 3.8%, after it said that China's state-owned Beijing Automotive Group Co. had taken roughly 5% stake in the company.
Technology firm Logitech International climbed 7.1% after it said it was on track to meet its 2020 sales and revenue targets. Semiconductor and other technology suppliers saw strong gains on Monday on signs of strengthening demand.
The positive mood in markets was gaining support both from both central banks and cooling trade tensions, said Thushka Maharaj, global strategist at J.P. Morgan Asset Management. Analysts expect a cut to interest rates from the Federal Reserve next week, and evidence of more stimulus from the European Central Bank on Thursday.
Still, a "sustained rally" across assets would require an improvement in underlying economic indicators, most particularly "manufacturing data across Europe and Asia," Ms. Maharaj said.
Shares in Spanish lender Banco Santander SA and Swiss bank UBS Group AG both rose more than 2% following their earnings reports. UBS's profit came in well ahead of expectations, and while Santander reported a tumble in net profit of 18% after costly restructuring efforts, this was largely in line with analysts' forecasts.
In the U.K., markets were awaiting the victor in the Conservative competition to be the new prime minister, expected shortly before noon local time.
The expectation is for Boris Johnson, the former foreign secretary and a leading voice of the campaign to leave the EU, to take the helm.
Derek Halpenny of MUFG Bank Ltd. said that unless there were signs that support was ebbing away from Mr. Johnson, in the form of further cabinet resignations or parliamentary party defections, there would "not be much in terms of volatility in equities, currencies or bonds."
Wall Street was set for another crop of results from major corporations. Coca-Cola Company will report on earnings later Tuesday, along with Travelers Companies and Visa.
Separately, Congress struck a deal late Monday with the White House over spending, which would suspend the federal debt ceiling until the end of July 2021. The move effectively took the matter off the table until after the next presidential election.
Asian markets also were up, with Shanghai up 0.5%, Hong Kong's Hang Seng up 0.3% and Japan's Nikkei up 1%.