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.

China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries’ long-term ties, according to people familiar with the matter.

American depositary receipts rose more than 3% on Wednesday as speculation intensified around a potential blockbuster aircraft order from China, possibly involving hundreds of jets. The renewed momentum in negotiations comes ahead of a planned summit between European and Chinese leaders in Beijing next month.