European stocks close higher amid US-China trade talks

By Gokhan Ergocun

ISTANBUL (AA) - European stocks ended the last trading day of the week on a positive note with hopes for progress in the global trade dispute between China and the US.

At the close, the benchmark index Stoxx Europe 600 rose 0.44% to 537.96 points.

The FTSE 100 index in the UK increased by 0.27% to 8,554.8, while the DAX 40 index in Germany gained 0.63% to 23,499.32 points, hitting a record.

The CAC 40 index in France rose 0.64% to 7,743.75 and the FTSE MIB 30 index in Italy traded at 39,369.99 points, up 1.02%.

The euro/dollar parity rose 0.54% to 1.129 as of 1650GMT.

Investors in Europe welcomed expectations that trade tensions between the US and China could ease.

The US and China are set to hold high-level talks in Switzerland to ease trade tensions, which recently escalated with the mutual imposition of high tariffs.

It will be the first face-to-face contact between the two countries since US President Donald Trump imposed 145% tariffs on Chinese goods in April.