European shares hit a record high on Wednesday, supported by a draft U.S.-Ukraine deal on critical minerals and robust corporate earnings.
Global shares also gained and Treasury yields nudged higher after the previous day's sharp fall, while the U.S. dollar rose after House Republicans advanced U.S. President Donald Trump's tax cut plans.
U.S. copper prices surged after Trump ordered a probe into copper imports.
Wall Street was up ahead of hotly-anticipated earnings from AI chipmaker Nvidia (NASDAQ:NVDA) .
The Republican-controlled U.S. House of Representatives late on Tuesday narrowly passed Trump's $4.5 trillion tax-cut plan, sending the budget resolution to the Senate, where Republicans are expected to take it up.
"It's mainly good for corporate U.S.," said Lars Skovgaard, senior investment strategist at Danske Bank (CSE:DANSKE).
"There's expected to be less regulation and tax cuts. I would expect it to happen and then it will be positive for markets if they do so."
Sentiment also improved after reports that the U.S. and Ukraine agreed terms of a draft minerals deal.
European shares advanced for a second day, with the pan-continental STOXX 600 touching a new record and blue-chip indexes in Frankfurt, Paris and London also rising.
"(The plan) moved through just a little bit quicker than people were expecting," said Tony Sycamore, a market analyst at IG.
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