European stock markets ended the day on the rise, fueled by optimism that the US could start negotiations to reduce tariffs.

By the closing bell, the benchmark index Stoxx Europe 600 rose by 2.72%, reaching 486.91 points. In the UK, the FTSE 100 index increased by 2.71% to 208.45 points, while in France, the CAC 40 index rose by 2.5% to 7,100.42 points. In Germany, the DAX 40 index gained 2.47% reaching 20,280.26 points, and in Italy, the FTSE MIB 30 index climbed 2.44%, hitting 33,657.05 points. The Euro/dollar exchange rate stood at 1.091 with a 0.092% increase by 19:40 GMT. Positive market sentiment in Europe was driven by hopes that the US could begin negotiations for agreements to reduce tariffs with various countries.

Insurance and financial services stocks led the gains in European stock markets. British telecommunication company BT Group, Germany-based automotive company Bayerische Motoren Werke, Mercedes-Benz, and Italian energy company Eni were among the top losers in the market. European Union officials expressed readiness to negotiate tariffs with the US. However, China requested a dispute settlement consultation from the World Trade Organization regarding US tariffs.