European stocks climb on hopes of easing US-China trade tensions
The pan-European STOXX 600 index rose 0.3%, as of 0708 GMT, with all regional bourses trading higher, led by a 0.5% gain in Germany's benchmark DAX index.
US President Donald Trump on Thursday predicted import tariffs on Beijing of 145% would likely come down as officials from the world's top two economies gear up for negotiations in Switzerland.
Washington will roll out dozens of trade deals over the next month, but a 10% tariff imposed on most countries will likely stay, US Commerce Secretary Howard Lutnick told CNBC, as the US announced a limited bilateral trade agreement with the UK.
European shares slip as investors assess earnings
The STOXX 600 index has climbed about 13.7% from its early April trough on hopes that the US will strike deals to avert a damaging trade war.
European assets have also benefited from investment flows away from the United States. Commerzbank shares dipped 0.2%, even as the German lender's first-quarter net profit growth beat expectations.
Sonova climbed 5.8% after the Swiss hearing aids maker forecast higher sales and profitability for its 2025/26 fiscal year.
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