European stocks closed mostly higher on Thursday as markets continued to assess hints on whether the US will reduce its tariff rates on the EU. The STOXX 50 inched below the flatline to close at 5,440 due to its large exposure to banks, and the pan-European STOXX 600 gained 0.5% to close at 553.
EU trade chief Sefcovic said that good progress had been made on a framework trade agreement with Washington, with a deal potentially achievable within days.
The positive momentum lifted shares in the consumer discretionary sector, with LVMH, Kering, L’Oreal, and Hermes adding between 1.6% and 3.5%.
Outside the Eurozone, miners in London rose sharply after US President Trump threatened 50% tariffs on copper, which lifted prices for base metals.
Rio Tinto, Glencore, and Anglo American added 4% each.
Also, WPP gained 2.6% after announcing that board member and Microsoft COO for Global Enterprise, Cindy Rose, will become its next CEO.