11:50 AM EDT, 05/18/2026 (MT Newswires) -- The European stock markets were tracking higher in Monday trading as oil prices and interest rates track higher, while hostilities in the Middle East appear close to reigniting after President Trump warned Iran that the "clock is ticking" on a peace deal.

The Stoxx Europe was rising 0.4%, Germany's DAX was up 1.3%, the FTSE 100 was gaining 1.3%, France's CAC was increasing 0.3%, and the Swiss Market Index was edging 0.1% higher.

And in corporate news, Novartis said Sunday its Pluvicto prostate cancer medication combined with standard care lowered the risk of disease progression by 58% compared to standard care alone in a clinical trial.

The combination therapy achieved deeper reductions in prostate-specific antigen levels at 12, 24, and 48 weeks, while severe adverse events occurred in 50.7% of patients receiving the regimen compared to 43% in the control group, the company said.

Shares of the Swiss pharmaceutical company were up close 1% in Zurich.

AstraZeneca and Roche Diagnostics Asia Pacific have signed a three-year agreement to improve digital pathology capabilities in nine Asian markets, the companies said Monday.

The collaboration will provide educational programs to expand the use of artificial intelligence in computational pathology and enhance biomarker testing for breast and lung tumors.

Shares of the British pharmaceutical company were edging 0.3% higher in London.

UBS has lost several senior Middle East wealth bankers less than two years after hiring them, Bloomberg News reported Monday, citing people familiar with the matter.

The departures include Rana Al Emam and Ali Khunji, both of whom were hired from HSBC in 2024. Al Emam has joined Banco Santander, while Khunji moved to J. Safra Sarasin earlier this year, according to the report.

UBS didn't immediately respond to MT Newswires' request for comment.

Shares of the Swiss bank were climbing 1% in Zurich.

Ryanair said it has contingency plans for an "armageddon" jet fuel scenario and warned weaker European carriers may not survive if high fuel prices persist, CNBC reported Monday.

Chief Financial Officer Neil Sorahan said Ryanair has hedged 80% of its summer fuel needs and does not expect flight cancellations despite volatility tied to Middle East tensions and the Strait of Hormuz, according to the report.

The Irish airline also reported fiscal 2026 earnings Monday that missed analyst forecasts, while revenue topped expectations.

Shares of Ryanair were gaining close to 5% in Dublin.

GSK's Arexvy respiratory syncytial virus vaccine has received an expanded approval in Japan to include adults as young as 18 years of age who are at increased risk of infection, the company said Monday.

The vaccine was previously approved in that market for adults aged 60 and above and for at-risk adults aged 50 to 59.

Shares of GSK were up 0.5% in London.

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