European Markets Surge Amid Positive Earnings and Global Diplomacy

European shares reached a five-month high, driven by strong earnings and optimism surrounding Trump-Putin talks. Miners and chemical stocks led gains. Markets anticipate Ukraine-related developments. Despite challenges from the U.S. producer data and Chinese economic impact, European companies exceeded earnings estimates.

European shares soared to a near five-month high on Friday, gaining momentum from a robust earnings season. Investors also focused on the anticipated meeting between U.S. President Donald Trump and Russian President Vladimir Putin.

The pan-European STOXX 600 index climbed 0.3% by 0853 GMT, supported by strong performances from miners and chemical stocks. Leading regional markets echoed this upward trend, with the UK's FTSE 100, Germany's DAX, and Spain's IBEX reaching notable peaks.

As global markets responded to diplomatic efforts in Alaska regarding a ceasefire in Ukraine and possible nuclear agreements, European corporate earnings demonstrated resilience. Despite economic pressures from the U.S. and China, a substantial 54% of companies outperformed earnings forecasts.

(With inputs from agencies.)