European stocks edged up on Tuesday, led by gains in automobile shares, after US President Donald Trump showed willingness to negotiate tariffs with the EU.
The STOXX 600 index rose 0.2% to 547.74 points, with other regional markets also moving higher.
On Monday, the EU accused the US of blocking trade deal efforts and warned of possible countermeasures if no agreement is reached.
In the market, auto stocks gained 0.9%, technology shares rose 0.8%, while telecom stocks dropped 0.8%.
Danish wind energy company Orsted jumped 5.5% after Morgan Stanley upgraded its rating to “Overweight.”
On the FX Front, The dollar stayed close to a three-week high on Tuesday as traders waited for US inflation data, which could hint at future monetary policy.
It was mostly unchanged at 147.62 yen, after briefly hitting 147.89 yen, the highest since June 23.
The dollar index, which measures the dollar against six major currencies, dipped slightly to 98.003, just below Monday’s peak of 98.136, the highest since June 25.
The euro rose to 1.1681 after falling to 1.1650 on Monday, its lowest since June 25.
Meanwhile, the Chinese yuan weakened slightly to 7.1766 per dollar in offshore trading, and the Australian dollar held steady at 0.6548.
Currency Power Balance
