European stocks closed higher Wednesday as investor sentiment over the prospect of an initial U.S.-China trade deal improved.

The pan-European Stoxx 600 closed up 1.18% to 403.19, with all sectors and major bourses in positive territory.

Market focus was largely attuned global trade developments. Bloomberg reported Wednesday, citing unnamed sources familiar with the talks, that the U.S. and China were moving closer to securing an agreement on the amount of tariffs that would be rolled back in a so-called “phase one” trade deal.

Source: CNBC