European markets were higher on Monday amid heightened geopolitical tensions following Iran’s massive drone and missile attack on Israel Saturday night.
The regional Stoxx 600 index rose 0.3% in morning deals, with most sectors in positive territory. Auto stocks led gains, rising 1.2%, while oil and gas fell 1.3% on rising risks in the Middle East.
Israel said it downed 300 drones and missiles targeting its territory. Last week, expectations that an Iranian attack could be imminent rose after a suspected Israeli strike that killed top Iranian officials in Syria. Israel has vowed to retaliate but has signaled that it will bide its time.
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