12:54 PM EDT, 03/16/2026 (MT Newswires) -- European stock markets were higher in Monday trading with the Stoxx Europe adding 0.5%, Germany's DAX increasing 0.5%, the FTSE 100 advancing 0.6%, France's CAC rising 0.3%, and the Swiss Market Index up 0.3%.

In geopolitical news, the EU High Representative for Foreign Affairs and Security Policy, Kaja Kallas, said the bloc plans to discuss how to open the Strait of Hormuz, ahead of a meeting of EU foreign ministers in Brussels.

Separately, US President Donald Trump's meeting with Chinese President Xi Jinping might be delayed for logistical reasons, US Treasury Secretary Scott Bessent said Monday during an appearance on CNBC. Bessent also said that the US is allowing Iranian oil tankers to pass through the Strait of Hormuz, CNBC reported. "The Iranian ships have been getting out already, and we've let that happen to supply the rest of the world," Bessent said, according to the report.

In corporate news, BP has obtained authorization from the Trump administration to move forward with its Kaskida project in the Gulf of Mexico, Reuters reported. BP shares rose 1% in London.

Shell said Monday that global demand for LNG is expected to rise by 54% to 68% by 2040. LNG demand is expected to increase from 422 million tonnes per annum, or mtpa, in 2025 to between 650 mtpa and 710 mtpa by 2040, the company said. Shell shares advanced 1.6% in London.

Eni said Monday it has made two new offshore gas discoveries in Libya as part of an exploration effort initiated in recent months. Eni shares gained 1% in Milan.

Nokia said it has launched Aurelis, a fiber-based system that allows data-center operators to monitor and manage servers even when their main network is down. Nokia shares rose 3.9% in Helsinki.

Alphabet's Google unit is at the center of calls from European publishers, tech firms and startups urging EU regulators to wrap up a nearly two-year investigation and impose a fine on Google, Reuters reported.

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