European Shares Gain Amid US Trade Deal Anticipation

European shares inched upward on Wednesday, bolstered by rising defense stocks, as investors eagerly awaited signs of progress on a trade agreement with the United States.

The pan-European STOXX 600 index climbed 0.2%, reaching 546.94 points by 0706 GMT. US President Donald Trump indicated that he would announce within two days the expected tariff rate for EU exports to the US, commending the EU for 'nice' trade talks.

Trump declared plans for a 50% tariff on imported copper and upcoming levies on semiconductors and pharmaceuticals, with potential 200% drug import levy delays of up to a year, marking August 1 as the final tariff deal deadline without extensions. Defense and energy shares gained alongside significant advances in EssilorLuxottica due to Meta's acquisition stake.

(With inputs from agencies.)