European Markets Respond to Trump's Tariff Announcement

In a surprising move that has sent ripples through global markets, United States President Donald Trump has announced the imposition of 25% tariffs on all aluminum and steel imports. This decision has sparked a positive reaction in European markets during premarket hours on Monday.

Market Performance Highlights

The DAX index saw a significant increase of 1.69%, while the FTSE 100 improved by 2.04% by 8:00 am CET. Similarly, the CAC 40 added 0.90%, and the Euro Stoxx 50 surged by an impressive 2.55%. This market movement comes ahead of the anticipated release of the latest Eurozone investor confidence report.

Currency Movements

At 7:58 am CET, the euro and the pound remained stable against the dollar, trading at $1.03187 and $1.24087, respectively. This stability in currency markets suggests a cautious optimism among investors as they digest the implications of Trump's tariff announcement.