European Stocks Rise on U.S. Tariff News and German Business Sentiment
The STOXX 50 gained 0.7% to 5,450 and the broader STOXX 600 was up 0.6% on Tuesday, as investors digested U.S. trade policy updates and stronger German business confidence.
President Trump indicated that not all planned tariffs set for April 2 would take effect, with potential exemptions for some countries.
However, he reaffirmed plans for new tariffs on autos, pharmaceuticals, and nations purchasing Venezuelan crude. Meanwhile, Germany’s Ifo Business Climate index climbed to an eight-month high in March, bolstered by a historic debt agreement.
Elsewhere, Ukraine and Russia agreed to a Black Sea ceasefire following separate talks with U.S. officials in Saudi Arabia. In corporate news, insurer Baloise surged 4% after reporting a 60.6% jump in 2024 profits, while logistics giant Kuehne und Nagel fell 4% after warning of weaker full-year operating profit and retailer Kingfisher plunged 14% after announcing a 7% drop in annual profit.
Source: Trading Economics