European Shares Surge Amid Trade Deal Prospects and Tariff Influences
European shares rose on Thursday, led by mining and healthcare stocks, as progress on a US-EU trade deal seemed imminent. European Commission President Ursula von der Leyen emphasized the EU's commitment to reaching an agreement. Auto stocks benefitted from optimistic earnings calls, while US tariffs impacted markets.
European shares experienced a bullish rally on Thursday, with mining and healthcare stocks driving significant gains. This uptick comes as investors keep a keen eye on promising developments in US-EU trade negotiations.
The pan-European STOXX 600 index climbed 0.5%, marking its highest point since June 11. In London, the blue-chip FTSE 100 soared to a new peak, while Germany's DAX slightly dipped 0.4%. European Commission President Ursula von der Leyen assured that efforts to secure a low-tariff trade agreement with the US are underway.
Anticipation surrounds the second-quarter earnings season, as companies navigate market fluctuations influenced by trade dynamics. In the automotive sector, stocks surged 2%, bolstered by BMW's earnings call. Meanwhile, US President Trump's new tariffs on copper and Brazilian goods added complexity to the market environment.
(With inputs from agencies.)
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