European Stocks Close Sharply Higher
European stocks closed sharply higher on Friday, tracking global equities amid signs that the US may opt to impose softer tariffs than previously signaled.
The Eurozone's STOXX 50 closed 1.5% higher at 5,320, and the pan-European STOXX 600 added 1.1% to close at 543.
The US and China agreed to a trade deal and avoid their aggressive tariffs against each other, consistent with the softer rhetoric on tariffs by selected US policymakers. This coincided with the EU leaders' discussion on how to reach an agreement with the US over their previous trade disputes.
In addition, harmonised inflation in both France and Spain accelerated more than expected - to 0.8% and 2.2% respectively - but remained low enough to keep the ECB on track to continue cutting interest rates.
Gains took place in all sectors, led by major industrials. Siemens and Schneider jumped 6.5% vs 3.6%, respectively, while BMW, Mercedes Benz, and Stellantis rose over 4.5% each to set the pace for auto manufacturers.
Source : Trading Economics
