STOXX Soars, Trump Ignored!
European stock markets posted gains for the fourth straight day on Thursday, with the STOXX 50 and STOXX 600 indices each rising 0.4%. The STOXX 50 is now at its highest level since late March, while the STOXX 600 reached its peak in the past month. This rise reflects market optimism despite renewed tensions stemming from US tariffs, including the announcement of 50% tariffs on Brazilian imports and copper, which will take effect on August 1.
In Europe, positive sentiment was also supported by news from the European Union Trade Commission that there had been "good progress" in negotiations on a new trade deal. The EU's chief negotiator, Maros Sefcovic, said an agreement could be reached "in a matter of days," boosting market sentiment. This news provided a counterbalance to geopolitical tensions and helped cushion the negative impact of President Trump's protectionist measures.
On the corporate side, Anglo American shares jumped 4.7%, becoming one of the day's top gainers. WPP also rose 2.6% after announcing a CEO change to Cindy Rose, who also served as Microsoft's COO for Global Enterprise. Megacap stocks such as SAP, LVMH, Hermès, and AstraZeneca also rose, fueling the market rally. The combination of trade optimism, strength in large corporate stocks, and a market's disregard for external risks made this session one of the most solid in recent weeks.
Source: (ayu-newsmaker)
