BRUSSELS : The pan-European STOXX 600 index posted a modest gain of 0.1%, closing at 553.85 points. The uptick came as US and Chinese officials announced an agreement on a framework to revive stalled trade talks and ease tensions, including a move by China to lift restrictions on rare earth mineral exports. The proposed deal is now pending approval by the two nations’ leaders.
Automaker shares saw the biggest boost, rising 0.5% across Europe, likely buoyed by hopes that trade barriers could ease. However, the retail sector weighed heavily on the index, falling 2.4%, led by fashion giant Inditex. The Zara owner reported a 4% drop in first-quarter sales, missing analyst expectations and dragging the broader sector down.
Investors now turn their attention to the US inflation report for May, due later today. The data could provide fresh insight into how recent US tariffs and global economic shifts are influencing consumer prices and growth, potentially shaping future monetary policy.
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