European shares hit record high as Middle East, trade tensions ease

(Reuters) - European shares touched a record high Thursday, tracking broader gains in global equities, after the United States and Iran backed away from further military escalation in the Middle East.Also lending support was confirmation from China on the signing of a "phase 1" trade deal with the United States next week, leading to an easing in trade related concerns.The pan-European STOXX 600 index rose 0.6% to a record high of 420.98, while stocks in Germany, the bloc's biggest economy,..