The European Union and India have formally signed what analysts are calling the “mother of all trade deals,” uniting economies representing a population of 2 billion people. The landmark agreement is set to significantly lower tariffs on key European exports, including food, wine, and automobiles, opening vast new markets for businesses across the continent.
The signing comes as Europe shows signs of renewed economic vigor. German Economic Minister expressed optimism, forecasting economic growth of at least 1% for 2026, a move that could potentially end three years of stagnation for the continent’s largest economy. Further bolstering this positive outlook, Spain’s unemployment rate has fallen below 10% for the first time since 2008, signaling a robust recovery in its labor market.
European car sales have continued their upward trajectory, marking the third consecutive year of growth. Sales rose by 2.4% to 13.3 million units, primarily driven by strong demand for electric vehicles (EVs), reflecting a significant shift in consumer preferences and industry investment.
In corporate news, the Pinault family has divested its stake in sports apparel giant Puma, selling it to China’s Anta Sports for $1.8 billion. The deal marks a strategic shift for the French luxury conglomerate and a significant acquisition for the Chinese sportswear behemoth.
Against this backdrop, European shares are marginally up, while Asian markets saw stronger gains, with both Japan and Hong Kong rising by 1%. U.S. futures are trading stable as investors await the start of the earnings season, which is expected to provide further direction. Gold continues to hold onto its recent gains, trading above $5,100 an ounce, indicating persistent investor demand for safe-haven assets amidst global uncertainties.
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