european shares gained after a tentative agreement was reached over the weekend in the us to raise the debt ceiling with volumes expected to be lower as many markets are closed the stoxx 600 index rose 02 at 907 am in paris after it had already rallied on friday on growing optimism the agreement was near all 20 sectors gained led by banks autos and real estate spanish equities climbed after prime minister pedro sánchez’s socialist party lost control of several key regions and cities in local elections on sunday while turkish stocks jumped a day after president recep tayyip erdogan sealed an election victory markets in the uk switzerland some nordic countries and the us will remain closed monday for a holiday us president joe biden and house speaker kevin mccarthy sealed a tentative debtceiling deal in a 90minute phone call late saturday clearing the way for a push to shepherd the agreement through congress and avert a historic us default a recovery rally in the stock market has stalled in may following the bankingled march rout with the stoxx 600 set for its biggest monthly decline of the year traders will be looking ahead to friday’s monthly report on us jobs for clues to how much more the federal reserve will raise interest rates to keep inflation in check or whether tighter monetary policy already is cooling the economy and price pressures “the market is already a bit tired of the us debtceiling issue and this week we could see some transitional sessions until friday with employment data in the us being the key” said diego fernández chief investment officer at ag banco in madrid “the macro is worsening and inflation not slowing as fast as expected but markets are still holding up close to record highs i can’t see that strength being sustainable”   spanish equities could be active monday after prime minister pedro sánchez’s socialist party lost control of several key regions and cities in local election on sunday   european and some gulf stocks with business exposure to turkey may trade actively on monday a day after president recep tayyip erdogan sealed an election victory   shares of swedish real estate firms as well as the wider european sector could be active amid sbb’s strategic review and after its credit rating was downgraded to junk by a second ratings firm for more on equity markets   advisory taking stock europe will resume on tuesday may 30   us stock index futures advance on deal to raise debt limit you want more news on this market click here for a curated first word channel of actionable news from bloomberg and select sources it can be customized to your preferences by clicking into actions on the toolbar or hitting the help key for assistance to subscribe to a daily list of european analyst rating changes click here