FX.co ★ European Stocks Extend Gains

European stocks ended Tuesday with a notable upward trend, continuing the week's positive momentum due to optimism regarding impending earnings and the trade outlook within the EU. The STOXX 50 increased by 0.7%, reaching 6,000, while the STOXX 600 rose by 0.6% to 613. A significant development was the successful finalization of a free trade agreement between the European Union and India after nearly 20 years of negotiations. This deal is anticipated to double EU goods exports to India by 2032, as it decreases or removes tariffs on 96.6% of EU goods exported to India. Within the pharmaceutical sector, Argenx saw a 4% increase, and ASML climbed 3.4% ahead of its upcoming earnings report. Concurrently, banks maintained their robust performance, with UniCredit and BBVA both gaining nearly 2%. Additionally, Puma experienced a substantial surge of 9.9%, following the sale of a stake to China’s Anta Sports.