European Shares Surge Amid Peace Plans and Cryptocurrency Buzz

European shares and the euro climbed as leaders agreed to draft a Ukraine peace plan. Bitcoin soared following Trump's cryptocurrency reserve announcement. Uncertainty over U.S. tariffs and economic health persists, affecting investments. European arms stocks saw gains amidst defense spending talks.

European shares and the euro experienced an upswing on Monday as European leaders committed to drafting a Ukraine peace plan. Simultaneously, bitcoin saw a significant surge following President Donald Trump's announcement of a new U.S. strategic cryptocurrency reserve.

The development comes after ongoing clashes between Ukrainian President Volodymyr Zelenskiy and Trump. European arms manufacturers witnessed a boost due to rising defense expenditure, contributing to broader market positivity despite looming U.S. tariff uncertainties and economic health concerns.

The S&P 500 and Nasdaq indices also saw gains, while the euro increased in value. Bitcoin's jump was part of a broader interest in cryptocurrencies ignited by Trump's social media announcements about including various digital assets in the new reserve.

(With inputs from agencies.)