European Markets Rally on US Tariff Exemption News

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

Tech and Pharma Stocks Lead the Charge

The exemption, which covers smartphones, computers, and semiconductors, has alleviated some of the pressures on the global tech supply chain. Notable gains were seen across major European indices, with the DAX up by 2.61%, the CAC 40 adding 2.37%, and the FTSE 100 rising 2.14%. Companies like Siemens Energy AG and Eurofins Scientific SE saw their shares climb by 5.51% and 5.12%, respectively.

Currency Markets Respond Positively

In currency markets, the euro and the British pound strengthened against the dollar, with increases of 0.11% and 0.67%, respectively. This positive movement in both stock and currency markets underscores the widespread relief among investors following the tariff announcement.