European Shares Climb As US, Ukraine Agree To Minerals Deal

(RTTNews) - European shares held near record highs on Today's exchange rate queryWednesday after the United States and Ukraine have agreed on the terms of a draft minerals deal amid ongoing talks to end the Ukraine-Russia war.

The draft minerals deal to turn over Kyiv's revenue from some of its mineral resources to Washington, says that the United States wants Ukraine to be "free, sovereign and secure."

The deal is key for Ukraine in securing continued U.S. support for its fight against Russia.

The agreement could be signed as early as Friday when Ukrainian President Volodymyr Zelensky visits Washington to meet his American counterpart.

The pan European STOXX 600 rose half a percent to 556.97 after gaining 0.2 percent on Tuesday.

The German DAX jumped 0.8 percent, France's CAC 40 surged 0.6 percent and the U.K.'s FTSE 100 was up 0.7 percent ahead of Nvidia's earnings release later in the day.

Investors shrugged off the latest survey data showing that German consumer sentiment is set to fall in March on weaker income expectations and willingness to buy.

The forward-looking consumer sentiment index unexpectedly fell to -24.7 in March from -22.6 in February, according to the survey jointly published by the market research group GfK and the Nuremberg Institute for Market Decisions. The reading was expected to improve to -21.6.

In corporate news, auto giant Stellantis slumped 5.6 percent after predicting no major improvement in its profitability in 2025.

Anheuser-Busch InBev soared nearly 8 percent as the world's largest brewer reported forecast-beating fourth quarter profits.

Munich Re gained 5 percent as the reinsurance giant reported a net profit of €5.7 billion for 2024, surpassing its original €5 billion target.

German telecommunications firm Deutsche Telekom tumbled almost 4 percent as it forecast profit for 2025 below analysts' estimates.

Biotechnology firm Evotec declined 1.6 percent after announcing a change in its management board.

Healthcare group Fresenius soared 6.5 percent after reporting fourth quarter adjusted operating profit above market estimates.

E.ON, the operator of energy networks, rallied 3 percent after upgrading its mid-term outlook.

Staffing firm Adecco climbed 3.7 percent after saying it was seeing signs of an uptick in the global hiring market at the start of the year.

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