European shares have opened higher after a day of gains in Asia. U.S. futures rose and oil prices also advanced after leaders of the Group of Seven major economic powers pledged financial, humanitarian and other support for Ukraine. Markets seemed unfazed by the possibility that Russia may have defaulted on its foreign debt for the first time since the 1917 Bolshevik Revolution after it missed a Sunday night deadline for repayment after a month-long grade period. But it could take time to confirm a default. Monday's advances followed a rally Friday on Wall Street that pushed the benchmark S&P 500 up 3.1%.

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