13.05.202516:07:44UTC+00European Stocks Extend Rally

European stock markets concluded Tuesday on a positive note, slightly building on the upward momentum seen in the prior session. This increase was influenced by continued optimism regarding the revitalized trade relations between the United States and China. The STOXX 50 index for the Eurozone advanced by 0.4%, closing at 5,411, while the broader STOXX 600 index across Europe edged just above even, finishing at 545. These gains followed a previous rally sparked by the de-escalation of the US-China trade war for a 90-day period, aimed at renegotiating trade terms. This positive development bolstered the macroeconomic outlook across all sectors. Notably, the automotive sector led the charge, with prominent companies such as Volkswagen, BMW, and Stellantis experiencing gains ranging from 3% to 4.5%. The industrial sector also enjoyed significant increases, with Siemens, Airbus, and Schneider posting gains of 1.5%. Conversely, Munich Re's shares slipped significantly by 4.5%, following the release of their first-quarter corporate results, which were adversely impacted by losses tied to the Los Angeles wildfires.