Frankfurt’s DAX advanced 0.3% on Thursday, surpassing the 24,600 level and hitting another record high, continuing its upward momentum for a fourth straight session. Markets brushed aside new US tariffs—including 50% levies on Brazilian and copper imports—and kept their attention on EU-US trade negotiations. EU trade chief Sefcovic said on Wednesday that good progress had been made on a framework trade agreement, and a deal could be reached within days. Pharma stocks led the market higher, with Merck rising 2.6% after announcing a $10 billion agreement to acquire British drugmaker Verona Pharma. Chemical companies, techs and automakers also advanced. On the downside, Commerzbank fell over 2% after BofA Securities downgraded its rating to Neutral.
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