European stock exchanges ended the day on a high note, driven by optimism that the US could start negotiations to lower tariffs.

At the close, the Stoxx Europe 600 index gained 2.72% to reach 486.91 points. The FTSE 100 index in the UK rose by 2.71% to 208.45 points, the CAC 40 index in France increased by 2.5% to 7,100.42 points, the DAX 40 index in Germany saw a 2.47% gain to 20,280.26 points, and in Italy, the FTSE MIB 30 index climbed by 2.44% to 33,657.05 points. The euro/dollar exchange rate was trading at 1.091 level with a 0.092% increase as of 19.40 GMT. The positive trend in the European markets was attributed to optimism regarding the potential negotiations with the US to lower tariffs with other countries.

Insurance and financial services stocks led the gains in the European stock exchanges. The British telecommunication company BT Group, German automotive companies Bayerische Motoren Werke and Mercedes-Benz, and Italian energy company Eni were among the top losers. European Union officials expressed readiness to negotiate tariffs with the US. However, China requested a dispute consultation at the World Trade Organization regarding the US tariffs.