European Markets Rise Amid Historic UK-US Trade Deal
European shares ended higher after President Trump announced a trade deal with the UK to lower tariffs, signaling a move towards easing global trade tensions. Market indices reflected the positive sentiment, while key talks between the US and China are expected this Saturday, potentially impacting future trade dynamics.
European shares climbed on Thursday following President Trump's announcement of a trade agreement with Britain aimed at reducing tariffs. This marks the first deal of its kind since Trump's sweeping global tariffs sparked widespread trade discord.
The pan-European STOXX 600 index closed with a 0.4% rise, supported by regional market gains. Central to this deal, the UK committed to lowering its tariffs on U.S. goods to 1.8% from 5.1%. However, a 10% tariff remains on UK exports to the U.S.
Economic eyes are now on Saturday's U.S.-China discussions, crucial for potentially easing trade tensions. Simultaneously, regional defence stocks surged, while utilities and healthcare sectors lagged, moderating overall market advances.
(With inputs from agencies.)
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