European stocks poised to jump after Trump trade deal
European stocks looked poised to rise on Monday as a deal between the US and European Union appeared to head off the risk of a damaging transatlantic trade war.
The deal struck by Donald Trump and Urusula von der Leyen, president of the European Commission, on Sunday at the former's Scottish golf course will set a tariff rate of 15pc for most goods, down from a threatened 30pc.
Full details are yet to be confirmed and a written next still needs to be agreed.
But as traders breathed a sigh of relief, Euro Stoxx 50 futures were up 1.3pc on Monday morning ahead of markets opening.
Speaking on Sunday, Mr Trump said: 'This is probably the biggest deal ever reached in any capacity, trade or beyond trade.'
5 things to start your day
US cars and energy to flood Europe as Trump strikes trade deal | Eleventh-hour agreement in Scottish summit to avert 30pc tariffs
Britain is stuck in a 'doom loop', warns hedge fund chief | American billionaire Ray Dalio issues a stark warning about the health of the UK economy
Fintech boss accused of 'backdoor' power grab in row over US move | Former partner claims the chief executive is hijacking a crunch shareholder vote to tighten his grip
Thames Water faces rocketing demand for supplies | Utility giant warns that plans to build 100 new data centres across London and the South East will pile more pressure on its creaking infrastructure.
Telecoms chief lands record £131m payday | The boss of a little-known UK telecoms business was handed a record £131m last year, marking the highest-ever package paid by a London-listed business.
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