BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed on a strong note on Wednesday amid rising expectations that the European Union and the U.S. will strike a trade deal before the newly announced deadline of August 1.
U.S. President Donald Trump's comments that discussions with the EU have been progressing well helped lift sentiment.
A report from the Financial Times indicated EU negotiators are closing in on a trade deal with the U.S. that would cement higher tariffs than those granted to the U.K.
Trump, who said he will possibly notify the EU within the next few days about the expected export rate, also threatened a steep 50% tariff on copper and hinted that semiconductors and pharmaceuticals will likely be levied heavy duties.
The pan European Stoxx 600 climbed 0.78%. The U.K.'s FTSE 100 edged up 0.15%, Germany's DAX closed 1.42% higher, and France's CAC 40 jumped 1.44%.
In corporate news, Galliford Try Holdings showed a strong move to the upside. The construction group said it expects to report full year 2025 revenue and adjusted pre-tax profit slightly above the upper end of current market forecasts.
Energy services firm Hunting Plc also moved sharply higher after reporting strong half-year results and launching a $40 million share repurchase program.
EssilorLuxottica also soared after Meta Plaforms Inc. bought a minority stake in the world's largest eyewear manufacturer.
Germany's Renk also jumped amid reports that the military vehicle parts maker is considering options for civilian industrial business.
On the other hand, WPP shares moved sharply lower after the British advertising major trimmed its outlook for first half and fiscal 2025.
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