European Shares Achieve New Heights Amid Trade Triumphs

European shares reached a new record high as easing U.S.-China trade tensions boosted investor confidence. The STOXX 600 index rose, with tech and mining stocks leading gains. Meanwhile, interest rate decisions from the U.S. Federal Reserve and the European Central Bank are anticipated. Novartis plans a $12 billion acquisition.

European shares soared to new intraday highs on Monday, continuing the positive momentum from last week. This surge was largely driven by optimism surrounding the easing of trade tensions between the United States and China, buoying investor confidence and risk appetite across the continent.

The STOXX 600 index, encompassing a broad array of European shares, edged up by 0.1% to reach 576.37 points as of 0808 GMT. This rise follows a record high close the previous Friday. U.S. President Donald Trump announced that a trade deal with China is on the horizon, with a meeting planned in South Korea to finalize the framework.

The tech and mining sectors led the advances, each climbing by 1.1%, while utilities faced a slight decline. Anticipation surrounds the U.S. Federal Reserve's expected rate cut, and the European Central Bank's steadiness on rates. Amidst corporate news, Novartis announced a significant acquisition deal, while HSBC revealed a financial setback linked to a previous lawsuit.

(With inputs from agencies.)