European Shares Rise As Automobile Stocks Lead on Trade Talks Optimism
European shares saw a slight increase, mainly propelled by automobile stocks, following U.S. President Donald Trump's openness to negotiations with the EU on tariffs. This uplift in market sentiment came amidst a broader backdrop of trade tensions between the U.S. and the EU.
European shares edged higher on Tuesday, with automobile stocks spearheading the rise, following positive signals from U.S. President Donald Trump regarding tariff negotiations with the European Union.
The pan-European STOXX 600 index recorded a 0.2% increase to 547.74 points by 0711 GMT, supported by gains in regional markets. This came a day after the EU accused the U.S. of stalling trade deal efforts, threatening countermeasures if an agreement remains elusive.
Amid escalating trade tensions, Trump expressed a willingness to engage with EU and other global partners, hinting at upcoming negotiations with EU officials in the U.S. Auto and technology stocks showed significant gains, while telecoms experienced declines. Meanwhile, economic data releases and U.S. earnings reports are set to influence market dynamics further.
(With inputs from agencies.)
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