World Stocks Rise on Iran Deal, Wall St. Momentum

World stocks rose and oil prices fell Monday after world powers and Iran reached a deal on the country's nuclear program and as Wall Street was set to add to its seven weeks of gains.

Sunday's deal was the first significant progress in years to curtail Iran's nuclear ambitions. It will reduce the risk of conflict, improve trade and could boost crude oil supplies to the global economy.

Iran agreed with the U.S., Britain, France, Russia, China and Germany to limit enrichment of uranium to 5 percent, far below the level needed for nuclear weapons. In return, it got limited relief from sanctions that have hobbled its economy, but an embargo on its oil exports remains in place while negotiations continue for an enduring deal.

“Perhaps the Iran nuclear deal, effectively setting limits to Iran's nuclear program, has added to the buoyant risk mood,” said Stan Shamu, market strategist at IG in Melbourne, Australia.

In early European trading, Britain's FTSE 100 rose 0.4 percent to 6,697.42 and Germany's DAX advanced 0.9 percent to 9,300.67. France's CAC-40 added 0.5 percent to 4,300.16.

Wall Street continued to be lifted by the Federal Reserve's...