European Markets Steady Amid Ukraine Peace Talks and Economic Insights

European markets saw minimal movement on Monday as investors' attention was directed toward prospective peace discussions involving Ukraine. European leaders, along with President Donald Trump, met following a summit with Russia that concluded without immediate agreements. The STOXX 600 index reflected the stagnant trend as it remained flat by 0840 GMT, following two consecutive weekly gains.

President Volodymyr Zelenskiy of Ukraine joined European leaders in advocating for a peace deal that wouldn't prioritize Moscow's interests. The urgency grew after recent dialogues between Trump and his Russian counterpart, Vladimir Putin. Meanwhile, Germany's foreign minister called for amplified pressure on Russia and increased support for Ukraine, emphasizing the significance of resolving the conflict to stabilize the European stock market.

In parallel developments, the U.S. Treasury's guidance on wind and solar subsidies uplifted renewable energy shares, with Vestas seeing a notable surge of 16.4%. Pharmaceutical advancements also made headlines as Novo Nordisk's drug received expedited U.S. FDA approval, contributing to a 4.5% rise in its shares, while defense stocks saw moderate gains.

(With inputs from agencies.)