European Markets Respond Positively to US Tariff Delay

Following the announcement by United States President Donald Trump to delay tariffs on Mexico and Canada, European stock markets saw a mostly upward trend. This decision has brought a sense of relief to investors across Europe, despite the ongoing concerns over potential tariffs on the European Union.

Stock Highlights

Notably, the DAX increased by 0.48%, and the Euro Stoxx 50 rose by 0.92%, with Infineon Tech AG leading the surge with a 10.37% jump. The CAC 40 also experienced a 0.74% increase, thanks to Dassault Systemes SE's significant 8.86% rise. However, the FTSE 100 faced a slight decline of 0.12%, impacted by Vodafone Group PLC's 7.03% drop.

Currency Movements

On the currency front, the euro saw a notable increase of 0.81% against the dollar, trading at $1.03790 by late afternoon. Similarly, the pound sterling strengthened by 0.63% against the dollar, reaching $1.24805 at the same time.