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European shares rise on SAP earnings, Trump's Fed backflip

The pan-European STOXX 600 index was up 1.8%, as of 0703 GMT. The markets this week have been grappling with the notion that the Fed's independence could be under threat after repeated attacks by Trump on Powell for not cutting rates since the president resumed office in January. Also lifting sentiment was Trump's softer tone on China tariffs, where he told reporters on Tuesday that he would be very nice in negotiations with Beijing.

The pan-European STOXX 600 index was up 1.8%, as of 0703 GMT. The markets this week have been grappling with the notion that the Fed's independence could be under threat after repeated attacks by Trump on Powell for not cutting rates since the president resumed office in January.

Also lifting sentiment was Trump's softer tone on China tariffs, where he told reporters on Tuesday that he would be very nice in negotiations with Beijing..