European shares started the week positively on Monday, recovering losses from the previous session after U.S. President Donald Trump postponed his plan to impose a 50% tariff on European goods.
The STOXX 600 index rose by 1%, rebounding from Friday’s 0.9% drop caused by Trump’s surprise tariff threat. He pushed the tariff deadline back to July 9 from June 1, following a request from European Commission President Ursula von der Leyen for more time to negotiate a deal.
The auto sector, sensitive to tariffs, led gains with a 1.8% rise, despite a 3.3% fall in Porsche shares. Defence stocks also helped, with Rheinmetall and Leonardo up more than 3% each. The aerospace and defence index grew 1.7%, boosting industrial stocks by 1.5%.
German shares climbed 1.7%, nearing record highs thanks to strong performance in defence and auto companies. Luxury brands like Kering, LVMH, and Richemont also rose about 1%, lifting the luxury index.
UBS’s Mark Haefele cautioned that while the delay is good news, investors may be too optimistic about trade talks.
The euro strengthened, and government bond yields remained steady as Trump stepped back from his tariff threats. Concerns about a U.S. economic slowdown and recent credit rating downgrade by Moody’s have made investors wary of U.S. assets.
Swissquote analyst Ipek Ozkardeskaya said trade and geopolitical tensions have shifted investor sentiment away from the U.S. as a safe haven.
Trading volumes were low due to holidays in the U.S. and UK, but U.S. futures were up over 1%.
Notably, Thyssenkrupp shares surged 8.8% after reports the company will hold a shareholder vote in August on spinning off its warship division. Zealand Pharma led the STOXX 600 with a 10% gain.
Baku is preparing to host its 10th Formula 1 race, with the city’s streets once again set to transform into one of the most demanding circuit...
Overnight Russian strikes on the city of Sumy, northeast Ukraine, have killed one woman and injured a man, the country's State Emergency Servic...
Iran's military has threatened to launch sustained attacks on U.S. bases and interests across the Middle East if Washington resumes milita...
Saudi civil defence sent an all-clear on Saturday after issuing alerts for a second time for potential danger in Riyadh and the city of Al-Kharj east of the capital, amid an uptick in attacks by Iran-aligned Houthis on the Gulf country.
Houthi attacks target Riyadh amid concerns over Saudi oil supplies, as Iran says it will not reopen the Strait of Hormuz until its conditions are met and U.S. commitments are implemented, parliament speaker Mohammad Bagher Ghalibaf said on Sunday.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
The death toll from an overnight Russian attack on the Kyiv region rose to four, including three children, Kyiv regional authorities said on Sunday. A mother and her two 3-year-old children were killed when a Russian drone strike hit a private home, the emergency service said.
Russian authorities have reported attacks on voting systems and communication lines as the country’s parliamentary election entered its second day on Saturday (19 September).
Baku is preparing to host its 10th Formula 1 race, with the city’s streets once again set to transform into one of the most demanding circuits on the F1 calendar.
Overnight Russian strikes on the city of Sumy, northeast Ukraine, have killed one woman and injured a man, the country's State Emergency Service has said.
The far-right Alternative for Germany (AfD) took first place in state elections in northeastern Germany on Sunday, voting projections showed, delivering the worst result for Chancellor Friedrich Merz's mainstream conservative party since 1949.
The Left Party won Sunday's Berlin state election with 25.5 per cent of the vote in the preliminary result, ahead of the Christian Democrats (CDU) on 19.1 per cent. This marks a major shift in the city's political landscape and a setback for Chancellor Friedrich Merz's ruling coalition.
A group of French nationals, suspected of belonging to the Islamic State (IS), on trial in Iraq could face execution, a member of Iraq’s Supreme Judicial Council told a hearing in Baghdad on Sunday.
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