European Markets Experience Significant Gains

In a remarkable turnaround, major European stock indices closed higher on Thursday, fueled by the United States' decision to delay reciprocal tariffs on the European Union. This move prompted the EU Commission to suspend its planned retaliatory duties on US goods, initially set for April 15, sparking a wave of optimism across the markets.

Key Performers in the European Stock Market

The DAX led the charge with a 4.33% surge, thanks to SAP's impressive 7.28% gain. Not far behind, the Euro Stoxx 50 and Italy's FTSE MIB climbed 4.13% and 4.72%, respectively, with Unicredit making headlines with an 8.36% increase on both indexes. France's CAC 40 and the UK's FTSE 100 also posted strong gains, advancing 4.16% and 3.19%, driven by Publicis Groupe and 3i Group's notable performances.

Swiss and Spanish Markets Join the Rally

Switzerland's SMI rose by 3.27%, propelled by Swiss Re Group's 6.5% leap. Meanwhile, Spain's IBEX 35 enjoyed a 4.07% boost, largely due to Fluidra's 7.68% climb, rounding out a day of widespread gains across European markets.

Euro and Pound Sterling Strengthen Against the Dollar

Amidst the market rally, the euro and pound sterling both gained ground against the dollar. The euro expanded by 2.22% to sell for $111918, while the pound sterling strengthened by 1.12%, exchanging for $1.29631, signaling a robust day for European currencies.