Global markets were lifted after the US and China substantially reduced tariffs imposed as part of a trade war between the world’s two largest economies.

European shares rose on Monday, as investors welcomed signs of progress in U.S.-China trade talks aimed at cooling a trade war between the world's two largest economies and dispelling some of the uncertainty clouding financial markets.

Asian shares are higher after two days of trade talks between China and the U_S_ made what the U_S_ side said was "substantial progress."