Major European indices are up solidly with gains of 1% or more for all the major indices except the UK. The gains are led by France’s CAC, and Italy’s FTSE MIB (four week high). Both rose over 1.4%. The German DAX reached new all-time highs supported by defense stocks.

Traders were encouraged by a trade deal with the US. The European Commission has reaffirmed its commitment to securing a foundational agreement with the United States on the ongoing trade dispute, aiming to finalize a deal by the end of this week.

A snapshot of the closing levels shows:

• German DAX +1.30%
• France’s CAC +1.44%
• UK’s FTSE 100 +0.14%
• Spain’s Ibex +1.24%
• Italy’s FTSE MIB +1.59%

As London/European traders look to exit for the day, US stocks are also advancing but at a lower pace:

• Dow industrial average +0.11%
• S&P index up 0.28%
• NASDAQ index up 0.58%
• Russell 2000 up 0.24

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