European Markets Respond Positively to US Tariff Delay

Following the announcement by United States President Donald Trump to delay tariffs on Mexico and Canada, major European stock indices mostly closed higher. This decision has brought a sense of relief among investors, despite ongoing concerns over potential tariffs on European Union imports.

Index Performances Highlight Market Optimism

The DAX index saw a rise of 0.48%, while the Euro Stoxx 50 increased by 0.92%, largely due to a significant jump in Infineon Tech AG shares. The CAC 40 also enjoyed gains, closing 0.74% higher, with Dassault Systemes SE leading the surge. However, the FTSE 100 experienced a slight decline, primarily due to a sharp drop in Vodafone Group PLC shares.

Currency Movements Reflect Market Sentiments

On the currency front, the euro and pound sterling both strengthened against the dollar, indicating positive market sentiments following the tariff delay announcement. The euro surged 0.81%, while the pound sterling was up by 0.63% against the dollar.