Europe stocks close up, Germany’s DAX at record high as investors eye U.S.-China trade talks

European stocks saw a positive session on Friday, after the U.K. and U.S. confirmed a trade agreement and as investors looked ahead to U.S.-China trade negotiations set to begin this weekend.

The pan-European Stoxx Europe 600 index closed 0.44% higher. The U.K.’s FTSE 100 gained 0.27%, while Germany’s DAX added 0.63% to finish at a record high of 23,499.3 points.

On Thursday, most major European indexes closed higher. However, the U.K.’s FTSE 100 bucked the trend to tumble 0.32% after snapping its record winning streak on Wednesday.

Over the coming weekend, U.S. Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are set to meet with top Chinese officials in Switzerland for talks on economic and trade issues. Bessent previously said the meeting was about “de-escalation, not ... the big trade deal.”

China and the U.S. are currently embroiled in a trade war, after they slapped tariffs of well above 100% on each other.

President Donald Trump endorsed cutting the tariff rate on China before weekend talks, but still leaving it a pretty severe level.

Asia-Pacific markets were mixed Friday as investors parsed China’s April trade data. Chinese exports surged in April even as businesses bore the brunt of U.S. tariffs that kicked into higher gear last month, while imports narrowed declines as Beijing stepped up stimulus.

On Wall Street, U.S. stocks rose in early deals after President Donald Trump suggested many trade deals are near.

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