European stocks closed sharply higher on Thursday, extending this week's strong momentum on the back of strong earnings reports and hopes that Ukraine may soon be on the way out, as investors weighed how new U.S. tariffs could affect European growth. The eurozone STOXX 50 jumped 1.7% to 5,500, its first closing high in 25 years, and the pan-European STOXX 600 gained 1.1% to 554. U.S. President Trump announced upcoming talks with Russian President Putin to negotiate a resolution to the ongoing conflict starting in 2022. Auto stocks led the gains with Mercedes Benz, Volkswagen, up between 7% and 5%. Meanwhile, Siemens jumped 7% and Adyen jumped 14% after posting fourth-quarter results, while EssilorLuxxotica jumped 7% after higher Ray-Ban sales prompted brokers to update their recommendations. Outside the Eurozone, Nestle rose a sharp 6% after posting results, but Unilever lost 5.6% in a downbeat year-end. (Newsmaker23)
Source: Trading Economics
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