An update on Thursday confirmed those details, and revealed that pharmaceuticals exported from the EU to the U.S. will see tariffs capped at 15%. That alleviated some concerns, as U.S. President Donald Trump had previously threatened to slap the sector with tariffs as high as 250%.

European equities were subdued on Thursday as investors awaited updates from the Federal Reserve's Jackson Hole symposium, while the United States and European Union locked in a framework trade deal reached last month.