European Stocks Rise on US-China Tariff Truce, Ukraine Tensions

European shares experienced gains driven by optimism over the extension of the U.S.-China tariff truce, which postponed the imposition of triple-digit duties until November 10, supporting investor sentiment ahead of upcoming U.S. inflation data and a planned Trump-Putin summit. The pan-European STOXX 600 index and other major European indices, including the FTSE 100, CAC 40, and DAX, showed modest increases, with notable stock movements such as Spirax Group surging after strong earnings and Orsted declining due to a large rights offering. Investor focus also included geopolitical tensions as Kyiv secured diplomatic backing from Europe and NATO amid concerns about potential land concessions demanded by Presidents Trump and Putin to end the war in Ukraine. Meanwhile, U.S. futures and Asian markets, including Japan’s Nikkei and China’s Shanghai Composite, edged higher, reflecting cautious optimism globally. Additional market dynamics involved significant corporate developments such as Rumble's potential $1.17 billion bid for German AI cloud company Northern Data and new U.S. government revenue-sharing agreements with Nvidia and AMD for advanced chip sales to China. Overall, markets remain attentive to the impact of tariffs on inflation and the geopolitical landscape shaping economic and defense sectors.