European Stocks Rise Supported by Mining Sector Gains and Trade Optimism
European stock markets saw a positive performance during Wednesday's trading on July 2, as major stock indices rose supported by the mining sector, while investors closely monitored developments in trade negotiations between the United States and its partners ahead of the deadline for imposing new tariffs.
The European Stoxx 600 index continued its advance, closing at 541.57 points with a 0.2% increase, while the German DAX index closed at 23758.35 points, gaining 0.3%. The UK's FTSE 100 index remained stable at 8790.68 points, while the French CAC 40 index jumped by 0.5% to reach 7706.43 points.
These gains came amid conflicting statements from US President Donald Trump, who expressed optimism about reaching a trade agreement with India, but cast doubt on the success of similar negotiations with Japan, confirming his intention not to extend the deadline set for July 9. In a related context, the EU's trade negotiator is heading to Washington this week in an attempt to avoid higher tariffs on the bloc's exports.
The mining sector recorded a strong performance with a 1.4% increase thanks to the improvement in commodity prices, while the banking sector made progress by 1.3% benefiting from rising bond yields and improved investor sentiment. On the individual stock level, British company Spectris caught attention after jumping by 5.1% following its acceptance of an acquisition offer from US-based private equity firm KKR.
