On Thursday, the STOXX 50 and STOXX 600 both experienced a 0.4% uptick, marking their fourth consecutive day of upward movement. The STOXX 50 has reached heights not observed since the end of March, while the STOXX 600 has hit a peak not seen in a month. Recent trade measures announced by U.S. President Trump, including a 50% tariff on Brazilian imports effective from August 1, seemed to have little adverse impact on market sentiment. Additionally, President Trump has confirmed the imposition of a 50% tariff on copper imports beginning August 1. In Europe, the EU's trade chief, Sefcovic, reported significant progress towards a framework trade agreement, indicating a deal might be finalized in the coming days.
In the corporate realm, Anglo American's shares surged by 4.7%, emerging as one of the leading performers. WPP's shares increased by 2.6% subsequent to the announcement that current board member and Microsoft COO for Global Enterprise, Cindy Rose, will assume the role of the company's next CEO. The positive market sentiment was further buoyed by gains in megacap stocks, with SAP rising by 1%, LVMH advancing by 1.3%, Hermès increasing by 0.9%, and AstraZeneca up by 1.9%.
