European stocks close higher to record levels

European stocks reached record levels on Wednesday, supported by strong gains for French and Spanish stocks, while steel manufacturing stocks rose after the The European Union announced plans to reduce steel import quotas.
The European Stoxx 600 index rose 0.8% to close at its highest levels, while French stocks jumped 1.1%, and Spanish stocks touched their highest levels since 2007.
The broader basic resources index rose 1.9%.

Automotive sector index

The stock also fell. "B.M.W" 8.2% after the car manufacturer reduced its profit expectations for 2025, due to changing assumptions US tariffs and weaker-than-expected growth in the Chinese market.
Competitor Mercedes shares fell 2.9%, while the broader auto sector index fell 2.1%.

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