European Stocks Optimistic Amid Trade War Talks: DAX Hits Record
European shares rose as Germany's DAX reached a record high due to optimism about U.S.-China trade talks. The STOXX 600 index gained, driven by energy and resource sectors, while U.S. and UK finalizing trade deals. Corporate earnings were largely positive, boosting market sentiment across Europe.
European shares experienced a slight uptick on Friday, fueled by optimism surrounding upcoming negotiations between the U.S. and China, with Germany's DAX index setting a new record high. The pan-European STOXX 600 index climbed 0.3% by mid-morning trading, featuring gains across all regional markets.
Significantly, energy and basic resource sectors led the growth among European stocks, with increases of 1.9% and 1%, respectively. Expectations are high as U.S. President Donald Trump hinted at a possible reduction of tariffs imposed on China.
Bolstered by favorable investment flows away from the United States, European assets continued their upward trajectory. Corporate earnings reports were positive, notably with Commerzbank and Sonova reporting better-than-expected results, further stimulating investor confidence.
(With inputs from agencies.)
ALSO READ
Britain Secures Groundbreaking Deal in Trump's Trade War
European Shares Rise Amid Trade War De-escalation Hopes
Trump's Tariff Gamble: Easing Tensions with China Amid Trade War
Trade Wars: Trump's Tariff Tango
Trump floats cutting China tariffs to 80% ahead of weekend meeting as he looks to deescalate trade war, reports AP.
Google News