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.
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France has continued activities that undermine the Azerbaijan-Armenia peace process, including espionage and information campaigns targeting Baku, according to Azerbaijan’s State Commission Against Foreign Interference and Hybrid Threats.
Russian sailors aboard a naval frigate fired warning shots at a civilian yacht in the English Channel on Tuesday after the vessel reportedly came too close, according to a source familiar with the incident.
QatarEnergy is prepared to rapidly restore liquefied natural gas (LNG) production at its Ras Laffan complex once shipping routes through the Strait of Hormuz return to normal, according to a source familiar with the matter.
Israel has formally assumed planning and construction powers at one of the most sensitive religious sites in the occupied West Bank, ending an arrangement that had been in place for nearly three decades.
Details of a reported draft memorandum of understanding between the United States and Iran offer the clearest picture yet of how both sides plan to end months of conflict and move towards a longer-term settlement.
The U.S. and Iran say they have reached a deal to end their conflict, with an immediate ceasefire and reopening of the Strait of Hormuz after the lifting of the U.S. naval blockade. Talks will continue over the next 60 days to finalise the agreement
A senior U.S. official said on Monday that the memorandum of understanding linked to the U.S.-Iran agreement had been signed by President Donald Trump, Vice President JD Vance and Iranian Parliament Speaker Mohammad Bagher Qalibaf.
Israeli Prime Minister Benjamin Netanyahu has told U.S. President Donald Trump that Israel does not consider itself bound by a Lebanon-related provision in an emerging agreement with Iran, according to Israeli officials.
A strong 6.7-magnitude earthquake struck Indonesia's Sulawesi island early Tuesday, killing at least one person and injuring four, according to emergency authorities.
Russian sailors aboard a naval frigate fired warning shots at a civilian yacht in the English Channel on Tuesday after the vessel reportedly came too close, according to a source familiar with the incident.
Leaders of the Group of Seven (G7) have called for a strong and coordinated international response to the Ebola outbreak in the Democratic Republic of the Congo, urging countries to commit more resources to contain the spread of the virus.
Türkiye’s Foreign Minister Hakan Fidan has warned against actions in the Black Sea that could threaten regional stability, saying he raised the issue directly with Russia during talks in Moscow.
Lithuania’s ruling Social Democratic Party has said its chairman, Mindaugas Sinkevicius, is preparing to become the country’s next prime minister, replacing Inga Ruginiene.
The United Kingdom has imposed a new wave of sanctions on Russia, targeting key financial institutions, logistics networks and vessels accused of helping Moscow sustain its war in Ukraine.
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