European Markets Respond Positively to US Tariff Delay

European stock markets closed mostly higher on Tuesday, buoyed by the United States President Donald Trump's decision to delay tariffs on Mexico and Canada. This 30-day reprieve has provided a sense of relief to investors across Europe, despite ongoing concerns about potential tariffs on European Union imports.

Stock Performance Highlights

The DAX saw an increase of 0.48%, while the Euro Stoxx 50 climbed 0.92%, largely due to a significant jump in Infineon Tech AG shares. The CAC 40 also enjoyed gains, with Dassault Systemes SE leading the charge. However, not all was positive, as the FTSE 100 dipped slightly, impacted by a sharp decline in Vodafone Group PLC shares.

Currency Movements

On the currency front, the euro strengthened against the dollar, alongside the pound sterling, which also saw gains. This movement reflects the market's optimistic response to the tariff delay.