European Stocks Rise Amid Eased Sino-U.S. Tensions
European shares climbed, spurred by reduced tensions between the U.S. and China and optimism over a trade pact with Vietnam. The STOXX 600 index rose 0.4%, with major regional indexes also gaining. U.S. President Trump announced a new trade deal with Vietnam, and the U.S. lifted restrictions on chip design software exports to China.
European shares experienced a rise on Thursday, invigorated by diminishing tensions between China and the United States and renewed optimism surrounding global trade agreements. This uplift follows a new U.S.–Vietnam trade accord ahead of the impending tariff deadline on July 9.
The pan-European STOXX 600 index climbed 0.4% to 543.26 points, registering gains across major regional indexes. U.S. President Donald Trump announced on Wednesday a trade deal with Vietnam, ensuring a lower-than-expected 20% tariff on multiple Vietnamese exports.
Market sentiment improved further as the U.S. removed export restrictions on Chinese chip design software and ethane producers. Meanwhile, Siemens AG shares increased by 1.5% following the resumption of software access for Chinese customers. The European real estate and energy sectors also saw advances, while investors keenly await U.S. nonfarm payroll data alongside legislative developments concerning Trump's tax-spending bill.
(With inputs from agencies.)
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