European stocks traded higher on Friday as easing oil prices and a moderation in the global bond selloff provided some relief to investors. The STOXX 50 rose 0.9% to 6,320 points, while the broader STOXX 600 gained 0.7%. Brent crude ended a two-day rally following reports that the US and Iran were exploring a phased agreement that could reopen the Strait of Hormuz and lift the US blockade on Iranian ports. Meanwhile, Presidents Donald Trump and Xi Jinping concluded their bilateral talks in Washington, with Trump describing the meeting as “great.” On the economic data front, German consumer sentiment deteriorated more sharply than expected heading into October, as higher energy prices weighed on households’ income expectations. Meanwhile, UK consumer confidence unexpectedly hit an over two-year high in September, adding to recent signs of resilience in the UK economy.