European Markets Soar on Trade Tensions Ease

European markets experienced a significant uplift on Thursday, following positive developments in international trade relations. The decision by US President Donald Trump to delay new tariffs for certain countries by three months has been met with widespread approval, mirroring Wall Street's sharp rally the previous day.

Leaders Welcome the Temporary Suspension

European leaders have quickly responded to the news, expressing their support for the temporary suspension of tariffs. They view this pause as an invaluable opportunity to reopen dialogues and negotiate more favorable terms for all parties involved.

Market Highlights

At 9:00 am CET, the DAX surged 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 gained 2.27%, highlighted by Sanofi SA's 6.18% jump. The FTSE 100 wasn't far behind, advancing 5.96%, with Alliance Witan rising 7.02%. Italy's FTSE MIB skyrocketed by 10.20%, thanks to Prysmian's 15.28% surge. Switzerland's SMI climbed 9%, with Richemont soaring 13.16%, and Spain's IBEX 35 advanced by 8.10%, propelled by IAG's remarkable 23.55% increase.

Currency Movements

The euro and pound also saw gains against the US dollar, with the euro trading up 0.27% to $1.09815 and the pound gaining 0.38% to $1.28688 at 8:59 pm CET.