European stock markets rose for the fourth day as investors awaited news on U.S. tariffs and trade agreement.
The STOXX Europe 600 index provisionally ended the session up 0.5%. Regionally, the U.K.'s FTSE 100 was up 1.2%, France's CAC 40 was higher by 0.3%, while Germany's DAX bucked the trend by declining 0.3%.
Global investors are brushing off a string of announcements of high U.S. tariffs because they are being viewed a "posturing," according to Hargreaves Lansdown's head of money and markets, Susannah Streeter. Ultimately, traders see room to negotiate top rates away in the weeks ahead, and are also still hoping for news of an EU framework deal with the White House, she said in a Thursday morning note.
"Hopes are riding high that the effects on global growth won't be as onerous as feared," Streeter said.
"The FTSE 100 is stuffed full of multinationals which are sensitive to the outlook for the world economy and with the so-called ‘TACO trade' in full swing, it's benefiting from more optimism around," she continued, referring to the phrase "Trump Always Chickens Out."
Miners have meanwhile "roared back to life" as copper prices hit record highs on news of a 50% U.S. tariff, which Streeter said would benefit major producers in the short term.
Source : CNBC
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