European shares hit record high as U.S.–China trade thaw feeds risk appetite

European equities closed at record highs for the third straight session as signs of easing trade friction between the U.S. and China boosted global risk appetite. The STOXX 600 index ended slightly up, while major national indices also climbed. Investors were encouraged by hopes of a trade-deal framework helping avert steeper tariffs and export restrictions. However, some analysts caution that underlying earnings momentum remains crucial for the rally to be sustained.