Rising European Market: Banking Sector Leads the Way Amidst Trade Negotiations

European shares surged, driven by banks, as investors anticipated progress on a trade deal with the U.S. The STOXX 600 climbed 0.5%, while major indexes also saw gains. EU and U.S. leaders are negotiating terms, with potential tariffs looming. Pharmaceutical shares dipped amid tariff threats.


Devdiscourse News Desk | Updated: 09-07-2025 14:47 IST | Created: 09-07-2025 14:47 IST
Rising European Market: Banking Sector Leads the Way Amidst Trade Negotiations
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European shares experienced an upswing on Wednesday, primarily driven by bank stocks, as market participants watched closely for developments in U.S.-EU trade discussions.

The pan-European STOXX 600 gained 0.5% to hit 548.28 points by the morning session. EU Commission President Ursula von der Leyen emphasized collaboration with the Trump administration to finalize a trade deal while remaining prepared for various outcomes.

Amidst these discussions, Trump hinted at imposing significant tariffs on EU exports, including copper, semiconductors, and pharmaceuticals, causing a dip in European pharmaceutical stocks, notably Zealand Pharma and Novo Nordisk. Despite these uncertainties, European defense stocks soared, with Renk and Indra seeing notable gains.

(With inputs from agencies.)

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