EUROPEAN SHARES RISE ON US-JAPAN TRADE DEAL – EU Talks in Focus
European shares climbed more than 1%, led by automobile stocks, after U.S. President Donald Trump revived hopes for a trade deal with the European Union following an agreement with Japan.
The pan-European STOXX 600 index gained 1.1% to 550.14, as of 0809 GMT, after three straight sessions of declines.
Other regional indexes also traded higher, with France’s CAC 40 leading the pack, jumping 1.3%.
European automobile stocks led the broad-based rally, rising 3.6%, tracking strength in Asian rivals.
Trump struck a trade deal with Japan, lowering tariffs on auto imports and sparing Tokyo from punishing new levies on other goods in exchange for a $550 billion package of U.S.-bound investment and loans.
The Japan deal included reduced 15% tariffs for auto exports to the U.S., down from 25% earlier.
