Goldman Sachs and Barclays raised their forecasts for Europe's STOXX 600 index on Wednesday, after a string of cuts last month, as renewed optimism following the U.S.-China trade truce lifted investor sentiment and eased concerns over a global recession.

KEY TAKEAWAYS Goldman Sachs raised its forecasts for Chinese and U.S. economic growth and cut its odds for a U.S. recession after the countries agreed Monday to slash tariffs on each other's imports.The Wall Street bank reduced its 12-month odds of a U.