Wall Street update: US stocks rebound as shutdown nears endgame | Europe stocks higher; Swiss sto…

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Europe stocks higher; Swiss stocks rise on optimism over possible reduction in U.S. tariffs

LONDON — European stocks maintained their positive momentum on Tuesday as an end to the U.S. government shutdown is in sight.

The pan-European Stoxx 600 index ended the session with a provisional gain of 1.3%, with all major bourses and sectors in positive territory.

The U.K.'s FTSE index hit a new record high on Monday, up 1.2% for the session, while Germany's DAX gained 0.6%.

Shares of Swiss companies traded higher as the country appeared to be close to clinching a deal with the U.S. to lower tariffs. Switzerland's luxury sector saw initial gains, with Richemont up 2%, while Swatch Group advanced 6% and Givaudan rose 1.9%. Overall, Switzerland's SMI was up almost 2% by the closing bell.

Stocks rise as US shutdown nears end

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Global shares have edged up driven by relief over the imminent end of the US government shutdown, though gains were tempered by nagging worries about valuations in the technology sector, while the dollar held firm.

European shares rose in early trading on Tuesday, led predominantly by gains in London's FTSE 100, which hit record highs as the pound fell following British employment data that gave investors more confidence in the chances of a growth-boosting rate cut from the Bank of England next month.

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