European Markets Respond Positively to Trade Deal Optimism

Major European stock markets experienced significant gains at the close of Wednesday's trading session. This upward movement was fueled by positive signals suggesting that a trade deal between the European Union and the United States could be finalized imminently.

Confidence from German Chancellor Boosts Market Sentiment

Adding to the optimism, German Chancellor Friedrich Merz expressed strong confidence that an agreement between Washington and Brussels is achievable by the end of July, well ahead of the August 1 deadline.

Stock Highlights and Currency Movements

Germany's DAX led the charge with a 1.46% increase, buoyed by Siemens' impressive 3.89% climb. The pan-European Euro Stoxx 50 and France's CAC 40 also saw substantial gains, with Essilorluxottica surging 5.64% on both indexes. Meanwhile, Britain's FTSE 100 posted a modest 0.16% rise, supported by British American Tobacco's 2.01% gain.

On the currency front, the euro dipped slightly against the dollar, trading at 1.17089 by late afternoon CET, while the pound remained steady at 1.35842 against the same currency.