Frankfurt’s DAX 40 gained ground on Monday, rising about 2% to close at 25,394, its highest level since January, outperforming its European peers. Markets welcomed signs of progress toward a US–Iran peace deal that could lead to the reopening of the Strait of Hormuz and a stabilization of global energy flows. US President Trump said that progress had been made on a draft agreement with Iran but that he would only accept a “great deal for all or no deal at all”, while Iranian officials confirmed talks were underway, prompting a sharp decline in oil prices and easing inflation worries. Energy-sensitive industrials, tech, retailers, banks and travel-related stocks were the top performers. MTU Aero Engines led the way, soaring 6%, followed by Daimler Truck (4.4%), Zalando (4.2%), Infineon Technologies (3.7%), Heidelberg Materials (3.6%) and Siemens Energy (3.3%). Deutsche Bank and Commerzbank advanced 3.2% and 2.9%, respectively.