STORY: European stocks jumped on Monday (March 14).

That on tentative hopes for progress in peace talks between Russia and Ukraine.

By mid-morning the regional STOXX 600 index was up over one percent.

Germany’s Dax did even better, rising more than 2.5%.

Prospects for the peace talks remain highly uncertain, though both sides have said there are signs of progress.

But the glimmers of hope were enough to send oil sharply lower.

International benchmark Brent crude dropped around four percent.

Traditional safe havens including government bonds and gold also headed lower.

Ukraine isn’t the only worry for markets this week though.

It’s also a busy few days for central bank rate decisions, with verdicts due from the U.S. Federal Reserve and the Bank of England.

Analysts bet the Fed will act to head off soaring inflation, now close to record highs.

An old worry may also resurface.

The Chinese city of Shenzhen this week tightened curbs amid a resurgent health crisis.

That was one factor behind a sharp drop in Chinese equities earlier, with the Shanghai index losing over 2.5%.