Stock Market Highlights: Closing Bell: Sensex settles 261 pts higher, Nifty above 24,600; Jio Fin, IndusInd Bank rise 2% each

Shares in Europe’s Airbus PA> rose on Wednesday as evidence of talks to sell hundreds of planes to China gathered pace ahead of a summit of European and Chinese leaders in July.

Talks involving a potential a mega-deal with China have been in the works for more than a year as Beijing studies options to feed the growth of its domestic carriers in the midst of trade tensions with the United States, home to rival Boeing.

Bloomberg News, citing people familiar with the matter, reported that a deal for up to 300 narrowbody and widebody Airbus aircraft could be sealed as soon as next month when European and Chinese leaders hold a summit in Beijing. The order could rise to as many as 500 aircraft, the report said. Shares in Airbus rose more than 3%.