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European equities reached a six-week high on Thursday, in hopes of a breakthrough in trade negotiations between the US and the EU supporting automakers, and the market also absorbed a series of commercial results. ECB President Mario Draghi insisted on keeping interest rates low until next summer.
The German DAX index, which stores export values, rose 1.8%,
The rally took place after Wednesday's meeting between the President of the European Commission, Jean-Claude Juncker, and US President Donald Trump, in which Trump agreed not to impose tariffs on European cars. Trade, reducing the risk of a transatlantic trade war.
The European automotive sector, the biggest gainer among the sectors, increased 2.6 percent. Daimler rose 2.8%, reversing its weak performance early in the session after the second quarter results showed that earnings were negatively affected by double pricing and fees.
Airbus jumped 4.5% to a new record after the group's results showed that base profits exploded in the second quarter.
Nokia fell 4.8% after the company reported low profits.
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