Precise Investors Editorial Team
Stoxx 600 jumped 0.69%, U.K.’s FTSE 100 added 0.34%, DAX closed 0.45% up, and CAC 40 closed up by 1.21%, while SMI settled higher by 1.16%
European stocks closed higher on Tuesday as the mood remained positive amid optimism over a potential Russia-Ukraine peace deal, after U.S. President Donald Trump described his meeting with Ukrainian President Volodymyr Zelensky and several other European leaders as “very good”.
Trump also said that he’s begun arranging a meeting between Zelensky and Russian President Vladimir Putin within the next couple of weeks.
Zelensky said he is open to “any format” of talks and would decide on the trilateral meeting based on how the first round goes.
Investors also looked ahead to U.S. Federal Reserve’s Jackson Hole Symposium in Wyoming, which gets underway on Thursday.
The pan European Stoxx 600 jumped 0.69%. The U.K.’s FTSE 100 added 0.34%, Germany’s DAX closed 0.45% up, and France’s CAC 40 closed up by 1.21%, while Switzerland’s SMI settled higher by 1.16%.
Among other markets in Europe, Denmark, Finland, Greece, Ireland, Netherlands, Norway, Poland, Portugal, Spain, Sweden and Turkiye closed higher.
Belgium and Iceland closed weak, while Czech Republic closed flat.
On the economic front, data from the European Central Bank (ECB) showed the euro area current account surplus rose to one-year high in June, jumping to €36 billion ($41.91 billion) from €32 billion ($37.25 billion) in May.
The surplus on goods trade declined to €23 billion ($26.78 billion) from €33 billion ($38.42 billion), while the surplus on services rose to €16 billion ($18.63 billion) from €14 billion ($16.30 billion) in May.
In the twelve months to June, the current account surplus totalled €318 billion ($370.22 billion) or 2% of euro area GDP, which was below €386 billion ($449.38 billion) or 2.6% a year earlier.
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