ISTANBUL

European stock markets ended Tuesday up as hopes rose for the US to reach tariff deals with several countries.

Last Wednesday, US President Donald Trump announced the imposition of sweeping tariffs on over 180 countries, ranging from 10% to 50%.

Trump posted on social media Tuesday that he had a “great call” with the acting president of South Korea, and that China “also wants to make a deal badly.”

“There can be permanent tariffs and there can also be negotiations,” Trump also told a Monday press conference.

Trump also said Japanese Prime Minister Shigeru Ishiba told him in a phone call that they are sending a “top team to negotiate” tariffs. He said “tough but fair parameters” are being set and urged Japan to buy more American cars, agricultural products, and “many other ‘things’.”

Following these statements, Stoxx 600's insurance stocks rose 4% higher, financial services were up 1.6%, and travel was 3.7% higher, after the stocks suffered for three days after the higher tariffs were announced

The pan-European Stoxx 600 rose 2.72% or 12.9 points to 486.91.

Germany's DAX 40 index grew 2.48%, or 490.64 points, to 20,280.26, while Britain’s FTSE 100 gained 2.71% – 208.45 points – to 7,910.53.

France's CAC 40 also climbed 2.5%, or 173.3 points, to 7,100.42, and Italy's FTSE MIB 30 index soared 2.44% to 33,657.05 in a 803.07-point rise.

On Sunday, White House National Economic Council Director Kevin Hassett said more than 50 countries targeted by tariffs have reached out to Washington for negotiations to lift them.