European Markets Experience Significant Gains

In a surprising turn of events, major European stock equities closed Thursday's trading session with notable gains. This surge comes as the markets continue to bask in the optimism following the United States' decision to delay its reciprocal tariffs on the European Union. In response, the EU Commission has also decided to pause its planned retaliatory duties on US goods, which were initially set to take effect on April 15.

Stock Highlights Across Europe

The DAX saw an impressive increase of 4.33%, largely thanks to SAP's 7.28% gain. Similarly, the Euro Stoxx 50 grew by 4.13%, and Italy's FTSE MIB advanced by 4.72%, with Unicredit leading the charge with an 8.36% rise on both indexes. Not to be outdone, the CAC 40 added 4.16% to its value, propelled by Publicis Groupe's 7.46% increase, while the FTSE 100 advanced by 3.19%, with 3i Group climbing 7.75%.

Swiss and Spanish Markets Also on the Rise

The SMI rose by 3.27%, following Swiss Re Group's 6.5% surge. Spain's IBEX 35 wasn't far behind, jumping 4.07% as Fluidra enjoyed a 7.68% increase.

Currency Movements

Amidst these developments, the euro strengthened significantly against the dollar, expanding by 2.22% to sell for $111918 by 5:34 pm CET. The pound sterling also saw a 1.12% increase against the dollar, exchanging for $1.29631 at the same time.