European shares rise as investors focus on US-EU trade talks

European shares rose on Thursday, underpinned by mining stocks, as investors awaited progress on a potential trade deal between the United States and the European Union.

The pan-European STOXX 600 index was up 0.5% at 552.45 points, as of 0709 GMT.

Other major regional indexes also traded higher, except Spain's IBEX, which edged 0.1% down.


In the latest trade developments, U.S. and EU negotiators moved closer to a deal. EU trade chief Maros Sefcovic said on Wednesday that the European Commission has made good progress on a framework agreement with Washington, and a deal could be reached within days.

The negotiators were discussing potential measures to protect the EU auto industry, according to EU officials and auto industry sources.

Also on Wednesday, U.S. President Donald Trump announced a new 50% tariff on copper imports and a 50% duty on goods from Brazil, both effective August 1.

Trump also issued new tariff letters for seven minor trading partners, adding to 14 others issued earlier in the week.

European mining stocks rose 2.8%, while healthcare gained 1.1%.

Shares of Barry Callebaut fell 7.2% after the Swiss chocolate maker cut its volume outlook for the third time this year.