European shares rally towards three-week highs on easing US-China tensions

Tesla, led by chief executive Elon Musk, saw its shares rally after the EV-maker reported better-than-expected profit for its core auto business. Photograph: Jim Vondruska/The New York Times European shares climbed to a near three-week high on Wednesday, boosted by strong earnings from Europe’s largest software maker SAP, while easing trade tensions between the US and China lifted investor sentiment globally. The pan-European Stoxx 600 index ended 1.8 per cent higher. Germany’s blue-chip index outperformed local peers to climb 3.1 per cent. The Trump administration is reportedly looking at lowering tariffs on imported Chinese goods pending talks with Beijing, adding…