Europe stocks close higher ahead of U.S. tariff launch
European markets closed higher on Tuesday, rebounding as global investors braced for U.S. President Donald Trump’s trade tariffs set to come into effect on Wednesday.
The regional Stoxx 600 index closed 1.07% higher, slightly paring gains after the Washington Post reported that White House aides had drafted a proposal to impose tariffs of around 20% on most imports to the U.S.
Stocks were boosted after euro zone inflation cooled as expected to 2.2% in March, according to data released by Eurostat.
Industrial group Thyssenkrupp meanwhile closed 6% after analysts at Kepler Cheuvreux upgraded the stock to “buy” from “hold,” according to Reuters, citing tailwinds behind steel and defense amid higher fiscal spending in Germany. The DAX index of German blue chips led gains among major bourses Tuesday, up 1.7%.
Source: CNBC