European Shares Surge Amid Trade Deal Hopes

European shares rose on Thursday, buoyed by gains in mining stocks, as investors optimistically anticipated a potential trade agreement between the United States and the European Union.

The pan-European STOXX 600 index notched a 0.5% increase, reaching 552.45 points as of 0709 GMT, with most regional markets climbing, although Spain's IBEX saw a slight dip of 0.1%.

Negotiations between U.S. and EU officials appear to be advancing, with EU trade chief Maros Sefcovic asserting that substantial progress has been made towards reaching a framework agreement with Washington. Talks are reportedly focused on safeguarding the EU's auto industry, according to both EU and industry sources.

Meanwhile, U.S. President Donald Trump has announced a series of new tariffs, including a 50% levy on copper imports and goods from Brazil, starting on August 1. He also issued additional tariff notifications for minor trading partners.

Gains in European mining stocks were prominent, with a rise of 2.8%, while the healthcare sector moved up by 1.1%. In contrast, Barry Callebaut's shares declined by 7.2% following the Swiss chocolate manufacturer's downward revision of its volume expectations for the third time this year.

(With inputs from agencies.)