Stock markets rose Monday on optimism that the US-China trade war is about to ease, with a possible deal in view when presidents Donald Trump and Xi Jinping meet later this week.

Argentina's stocks soared 20 percent on the back of President Javier Milei's midterm victory, which saw his party win the biggest amount of votes in weekend legislative elections. The peso also jumped.

European stock markets were muted, reined in by anticipation of interest-rate decisions this week from the Federal Reserve and European Central Bank, although Spain's index reached a record high from strong growth and corporate earnings.

Overall the positive sentiment was "buoyed by weekend chatter suggesting that Washington and Beijing may finally be finding some common ground" and pulling back from painful tit-

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