FX.co ★ European Stocks Close at Record High

European stocks saw a significant uptick on Tuesday, marking a continuation of yesterday's strong performance, with indices reaching record highs. This surge was fueled by optimism surrounding the potential end of the US government shutdown and a series of positive corporate updates. The STOXX 50 rose by 1.1% to 5,728, while the STOXX 600 increased by 1.3% to 580. The House of Representatives, led by the Republican party, is anticipated to vote on a spending proposal passed by the Senate on Monday, which could bring an end to the historic 41-day US government shutdown as early as Wednesday. Meanwhile, Adyen experienced a remarkable increase of over 8%, owing to the announcement of new long-term forecasts. Luxury brands and automotive manufacturers bolstered the indices, with companies such as Hermes, LVMH, Volkswagen, and Stellantis recording gains ranging between 5% and 2.5%. Beyond the Eurozone, Swiss stocks attracted considerable attention after indications emerged that the Swiss government might strike a trade agreement with the US, potentially reducing tariffs. This development benefited companies like Roche, Novartis, Lonza, and Richemont.