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The Eurozone STOXX 50 index preliminarily closed up 4.49% at 5,886.54 points. The FTSEurofirst 300 index preliminarily closed up 3.58% at 2,440.27 points.

Glonghui, April 8th｜Jefferies analyst Stephen Volkmann upgraded the rating of agricultural equipment manufacturer Deere & Company from “Sell” to “Hold,” while maintaining the target price at $550. After the stock price fell about 15% from its high in February, the downside risk is now limited. The firm noted that at current levels, the valuation is more balanced.

Mining giant Rio Tinto Group and leading U.S. producer Century Aluminum have jointly announced a significant increase of about 12% in aluminum product surcharges for the U.S. market. This adjustment is mainly due to serious disruptions in the supply of key raw materials caused by the conflict in Eastern Europe. The conflict has not only led to severe volatility in energy prices, but has also blocked bauxite transportation routes, causing production costs to soar. Both companies stated that the surcharge increase is a necessary measure to address the current special market conditions. Industry analysts have pointed out that this price increase may further drive up input costs for U.S. manufacturing. Major users of aluminum such as the automotive and aerospace sectors may face greater cost pressures, and some companies have begun seeking alternative materials or adjusting their procurement strategies.