European Shares Climb After Ukraine's Ceasefire Agreement
(RTTNews) - European stocks advanced on Wednesday after Ukraine signaled its readiness to accept a U.S. proposal for an "immediate, interim 30-day ceasefire" with Russia, and the European Union announced retaliatory tariffs on U.S. imports of steel and aluminum.
"A while ago, Ukraine has agreed to the ceasefire. Now we go to Russia and hopefully President Putin will agree to it also," U.S. President Trump said soon after the Jeddah announcement.
The pan European STOXX 600 jumped 0.6 percent to 539.85 after four days of declines amid fears about U.S. trade policies and uncertainties related to Germany's fiscal stimulus package.
The German DAX and France's CAC 40 both surged around 0.8 percent while the U.K.'s FTSE 100 was up 0.3 percent.
Puma SE shares slumped 22 percent. The German sportswear group gave a cautious outlook for the 2025 fiscal year, citing global trade tariffs and currency volatility.
Zara owner Inditex plummeted nearly 8 percent after reporting a slow start to its first quarter sales.
Luxury-car maker Porsche AG lost 4 percent after slashing profit targets.
Danish biotech company Zealand Pharma soared 25 percent after a collaboration deal with Swiss pharmaceutical firm Roche.
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