European stocks rose on Wednesday for the first time in three sessions, with the STOXX 50 climbing 1% and the STOXX 600 up 0.9%, as a trade agreement between the US and Japan sparked hopes for further deals and reduced tariffs.
President Trump said that Japan had agreed to a 15% tariff on its exports to the US, alongside a commitment to invest $550 billion into the US and open its markets to key American goods.
The US President also said that representatives from the European Union were coming for trade negotiations today. Megacaps were mostly higher, including ASML Holding (1.4%), Nestle (0.7%), LVMH (2.4%) and Hermes (2.2%). The auto sector was also among the top performing sectors, including Ferrari (1.6%), Mercedes-Benz (5.5%), BMW (4.6%), Porsche (5.1%) and VW (5.3%). On the other hand, shares of SAP sank almost 4% after the company's results failed to impress investors as it backed its guidance for the year.
Source: Trading Economics
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