European stocks trade near four-year highs

After closing Monday at the highest level since Aug. 5, 2015, the Stoxx Europe 600 SXXP, +0.12% increased 0.02% to 403.50.

The S&P 500 SPX, +0.37% on Monday finished at a record high on hopes for a trade deal. U.S. officials are considering removing tariffs on $112 billion-worth of Chinese goods as a concession to seal a “phase one” trade deal, the Financial Times reported late on Monday. The 15% tariffs on items such as clothing, appliances and flat-screen monitors were put into effect on Sept. 1. U.S. stock futures ES00, +0.28% edged higher on Tuesday.

Associated British Foods ABF, +4.80% rose 5% as the company reported a 2% rise in adjusted pretax profit for the year and said operating margins at its fast fashion retailer Primark will have a small drop. The U.S. expansion of Primark will continue as the company has signed a lease in Philadelphia.

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