European stocks surged over 1% on Wednesday, driven by hopes for a US-EU trade deal following Trump’s agreement with Japan. The STOXX 600 rose 1.1%, with the UK’s FTSE hitting a record high. Automobile stocks saw gains of 3.6%, boosted by strong performance in Asia. Temenos led the gains, jumping 18.1%, while UniCredit and Lonza also saw increases. However, Nokia and ASM International faced losses. The Euro initially strengthened but later fell. Gold prices continued to rise amid ongoing trade deal concerns. Companies worldwide have reacted to tariffs, with estimated costs exceeding $34 billion. Central Banks are cautious about potential inflation impacts. Earnings reports from big names like Alphabet, Tesla, T-Mobile, and IBM are expected. The FTSE 100 index is pushing higher, reaching the 9100 handle, due to improved trade deal sentiment and Wall Street rally. Immediate support is at 9048, with upside potential towards 9250 and 9500.

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