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.

(Reuters) -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.

"We're confident that the deal we struck with our Chinese partners will help us work toward resolving that national emergency," Jamieson Greer said.