MILAN—Stock markets around the world slipped on Monday as fighting in Ukraine raged on with no sign of a ceasefire even as diplomatic efforts continued, while Brent crude prices climbed above $110 a barrel as supplies remained tight. Turkey’s foreign minister said on Sunday that Russia and Ukraine were nearing agreement on “critical” issues and he was hopeful for a ceasefire if the two sides did not backtrack from progress achieved so far. Most share markets rallied last week in anticipation of an eventual peace deal on Ukraine, but it could take actual progress to justify further gains. President Joe Biden will meet NATO allies on Thursday and visit Poland on Friday. “The coming days will be a litmus test on whether last week’s risk-on rally was overdone. Hopes related to a peaceful resolution in Ukraine have relied on headlines more than evidence,” said ING’s Francesco Pesole and Chris Turner. …