Global Markets Soar Amid U.S.-China Trade Progress

European stock indexes surged on Friday, buoyed by signs of progress in U.S.-China trade discussions, while the U.S. dollar slipped to its lowest level in more than three years. This rally in global stock markets comes as traders gained confidence from positive developments on multiple fronts.

Markets cheered a ceasefire between Iran and Israel and speculated on potential U.S. rate cuts. Furthermore, an agreement between the U.S. and China to expedite rare earth shipments provided an optimistic outlook as both nations aim to end their ongoing tariff war.

As Asian shares hit their highest in over three years, the pan-European STOXX 600 index climbed 0.9%, heading for a 1.1% weekly gain. London's FTSE 100 and Germany's DAX also saw notable increases, reflecting a global upswing in investor sentiment.

(With inputs from agencies.)