European Markets Experience Significant Gains

European markets witnessed a remarkable upswing on Thursday, buoyed by the easing of trade tensions. This positive movement was largely influenced by US President Donald Trump's decision to postpone the implementation of new tariffs for certain countries by three months. This gesture of goodwill sparked optimism across the continent, mirroring the robust performance of Wall Street the previous day.

Leaders Respond to Tariff Delay

European leaders were quick to respond to the announcement, expressing their approval of the temporary suspension. They viewed this as a golden opportunity to reopen discussions and foster a more collaborative international trade environment.

Market Highlights

By 9:00 am CET, the DAX had surged by an impressive 8.37%, with Infineon Tech AG leading the charge with a 21.24% spike. Similarly, the EURO STOXX 50 soared by 8.78%, and the CAC 40 enjoyed a 2.27% increase, thanks in part to Sanofi SA's 6.18% jump. The FTSE 100 wasn't far behind, advancing by 5.96%, with Alliance Witan climbing 7.02%. Italy's FTSE MIB saw an extraordinary rise of 10.20%, propelled by Prysmian's 15.28% surge. Switzerland's SMI increased by 9%, with Richemont soaring 13.16%. Spain's IBEX 35 also made significant strides, advancing by 8.10%, with IAG skyrocketing 23.55%.

Currency Movements

On the currency front, the euro appreciated by 0.27% against the US dollar, trading at $1.09815 by 8:59 pm CET. The British pound also gained strength, increasing by 0.38% to $1.28688 against the greenback.