European Stocks Rise on Hopes of More Measured Trump Tariffs
European stocks gained in expectation that the next round of Donald Trump’s tariffs may be more measured than anticipated.
The Stoxx Europe 600 Index gained 0.6% as of 8:15 a.m. in London, with the basic resources leading the gains on hopes of softer US curbs. Healthcare shares were among the biggest laggards, with Novo Nordisk A/S the worst-performing European stock in terms of percentage points after a downgrade at Intron Health.
Investors are now turning their focus to the April 2 tariffs deadline, when Trump is expected to announce widespread reciprocal measures. New levies are set to exclude some nations and the administration might hold off from imposing sectoral-specific levies, US officials said.
“Markets are buoyed by reports over the weekend that the Trump administration might invoke tariffs in a more targeted fashion,” said Joachim Klement, head of strategy, economics and ESG at Panmure Liberum.
Traders will also be watching purchasing managers’ index data in Europe and the US due later in the day.
Among other individual stocks, RWE AG rose as much as 2.8% after Elliott Investment Management LP called on the German energy company to ramp up buybacks. Iveco Group NV gained 1.3% as the firm is seeking as much as €1.5 billion for its defense unit on surging demand for military assets.
Source: Bloomberg
