Market Rally Following Tariff Exemption

European markets experienced a significant uplift at Monday's close, with the Stoxx 600 index surging by 2.2%. This rebound in investor confidence comes on the heels of a temporary exemption on tech-related tariffs by the US, announced over the weekend by the Trump administration.

Impact on Key Sectors

The tariff pause specifically excluded critical tech products such as smartphones, computers, and semiconductors from the latest duties, providing much-needed relief to the global tech supply chain. Notably, Siemens Energy AG saw a remarkable increase of 5.51%, contributing to the DAX's 2.61% gain.

Across the Board Gains

The positive sentiment was widespread, with the CAC 40 adding 2.37% and Eurofins Scientific SE climbing by 5.12%. The FTSE 100 wasn't left behind, rising 2.14%, as Barclays PLC ORD advanced by 4.77%. The pan-European Euro Stoxx 50 also enjoyed a 2.38% increase, with Bankinter leading the charge, trading 4.47% higher.

Currency Markets Respond

In the currency markets, the euro and the British pound strengthened against the dollar, with gains of 0.11% and 0.67% respectively, trading at $1.13729 and $1.31803 by 5:31 pm CET.