Stocks rose in early European trading on Wednesday and the euro held near a five-month high, helped by news that Ukraine would support a U.S. proposal for a 30-day ceasefire, but fears around U.S. tariff plans kept traders cautious.
Financial markets were left scrambling on Wall Street on Tuesday after U.S. President Donald Trump threatened to double steel and aluminium tariffs on Canada to 50%, then rapidly reversed course.
But U.S. indexes recovered some of their losses later in the session and European futures jumped after Kyiv said it would accept a U.S. ceasefire proposal and the U.S. said it would restore military aid and intelligence-sharing to Ukraine.
At 1032 GMT, Europe's STOXX 600 was up 0.8% on the day, in a sign of turnaround from its previous four consecutive days of losses.
London's FTSE 100 was up 0.4% and Germany's DAX was up 1.4%.
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