FX.co ★ European Stocks Rise on US-China Optimism

European stock markets exhibited gains on Friday, driven by optimism regarding prospective trade discussions between the United States and China after Beijing indicated a willingness to engage in negotiations. The Stoxx 50 index advanced by 0.7%, while the Stoxx 600 increased by 0.9%, with notable contributions from the mining sector, which rose 2.5%, and banks, which climbed 1.7%. Market participants are also anticipating the release of eurozone inflation data expected later in the day. On the corporate front, Standard Chartered surpassed first-quarter profit expectations, buoyed by robust performance in its wealth management and global banking divisions. In contrast, Shell reported a marked decline in first-quarter earnings, attributed to weaker oil prices. NatWest, however, outperformed expectations with a profit of £1.8 billion. Additionally, Moët Hennessy has announced plans to reduce its workforce by more than 10% as part of a strategic reorganization within LVMH’s wine and spirits division.