European shares rise as US court ruling on Trump tariffs boosts sentiment
European shares climbed on Thursday as a U.S. trade court's decision to block President Donald Trump's proposed tariffs sparked a risk-on sentiment across global markets.
The continent-wide STOXX 600 index (.STOXX), opens new tab was up 0.4%, as of 0715 GMT, with regional indexes also trading in the green. Germany's DAX 40 rose 0.5% to hover near a record high.
The Court of International Trade ruled that Trump overstepped his authority by imposing the April 2 across-the-board duties on imports from U.S. trade partners.
On Wall Street, stock index futures rose by more than 1.5% as the court's decision provided some relief from persistent trade uncertainties.
Overall sentiment was also lifted by AI bellwether Nvidia, which surpassed quarterly sales expectations in after-hours trading on Wednesday.
European stocks recover after Trump delays EU tariffs
European AI-exposed stocks such as ASML and Schneider Electric each gained about 3%, while the region's technology index led sector gains with a 1.7% rise.
European carmakers, sensitive to tariff-centric pressures, rose in early trading. Shares in Stellantis gained 2.5%, Porsche up 1% and Volkswagen added 1.2%.
Investors also favoured luxury stocks, with Kering, Christian Dior and Burberry rising between 3% and 3.6%.
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On February 28th 2025, Rome hosted the sixth round of Bilateral Political Consultations between the Secretary General of the Italian Ministry of Foreign Affairs and International Relations, H.E. Ambassador Riccardo Guariglia, and the Pakistani Foreign Secretary, H.E. Ambassador AmnaBaloch, in preparation for possible other political visits to Pakistan. A wide range of bilateral and regional issues were discussed, such as the Middle East and Ukraine, reflecting the scope and depth of our mutual interests. Other landmark events have invigorated the friendship between Italy and Pakistan over the last year. In the second half of 2024 the port of Karachi welcomed for the fourth and fifth time in recent years the visit of Italian naval ships. While three other Italian ships – FREMM Margottini, FREMM Carabiniere and multi-purpose ship Morosini – had already visited in past years the economic capital of Pakistan, always with a significative official delegation from the Italian Navy, October 2024 saw the exceptional docking in Karachi, for the first time, of our Carrier Strike Group: aircraft carrier Cavour and frigate Alpino. In December 2024, Karachi hosted the iconic sailing ship of the Italian Navy, beautiful Amerigo Vespucci. Italian technological advancements, including the defense sector, have been manifold in recent times, and Italy is part of a small group of Nations able to deploy a Carrier Strike Group with air and naval assets that can guarantee the security of international spaces and freedom of navigation. Italy does not ignore the mounting risks arising from Pakistan's unsettled bilateral relationships with its neighbors, within the broader context of increasing global tensions. In keeping with our doctrine of the enlarged Mediterranean, Italy has gradually increased the level of relationships with the Asia-Pacific region, demonstrating her intention to pursue the protection of trade routes to Suez (essential to our trade) and the principle of freedom of navigation. Italian engagement, including participation in military exercises in the Pacific, as well as the round-the-world voyage of ship Vespucci, make visible Rome's active commitment to strengthening ties with allies and partners in the region. In this regard, Italy considers Pakistan as an indispensable strategic partner in the region, and in this light we should view the growing ties between the defense industries of both countries – let me just highlight the Italian participation in several exercises/event like Aman, PIMEC, IDEAS. In particular, the presence of the Italian major national defense companies alongside their Pakistani counterparts at IDEAS and during the visits of our naval ships signals our willingness to get to know each other better, exchange views, and explore possible further avenues for collaboration. Whilst you can refer to the articles by the Director of the Italian Cooperation Agency and the Trade Commissioner for more details on the latest development projects and some stories of economic and business success, there would be something amiss here if I did not expand on the intensity and tenacity of our bilateral cultural ties. In 2025, the Italian Archaeological Mission in Pakistan blows out 70 candles on its birthday cake. It was in 1955 that Italian archaeologists first fell in love with Swat, Khyber-Pakhtunkhwa province. Especially Professor Giuseppe Tucci, a world-class scholar in Tibetan and Buddhist studies, who first understood the significance of this chunk of Swat Valley, roamed by buffaloes and goats. Since then, Italian archaeologists have continuously worked in the region, playing a key role in unearthing the roots of the Indo-Pakistani subcontinent. Italian experts have made ground-breaking discoveries, including the unearthing of the ancient city of Bazira and the stunning painted pottery from the Chalcolithic period. Over the years, we have worked tirelessly with incredibly motivated Pakistani counterparts, especially in KPK, to preserve the country's cultural treasures. In 2014, the Italian Government launched the unique "Debt for Heritage" initiative, which enabled us to restore and rebuild several archaeological sites, including the Swat Museum and the colossal Jahanabad Buddha. In 2021, yet one big surprise. Excavations revealed the complete ShahiVishnuite temple in Barikot, including its podium, floors, and striking marble decorations from the TurkiShahi period. By the end of the excavations, over 2,200 objects, including sculptures, coins, inscriptions, ceramics, ornaments, iron weapons, and stone tools, were found, restored, and handed over to the Swat Museum. But Italy has not only worked in KPK. In Sindh, an imposing citadel with 55 towers surrounds the site of Banbhore, not far from Thatta, on the banks of what used to be a branch of the Indus Delta. It is not an overstatement to say that Banbhore was like the Dubai of its era, such a cosmopolitan place that Greek, Latin, Aramaic, Persian, and Arabic sources all mention it, and remnants of religious buildings show that Buddhism, Hinduism, and Islam co-existed peacefully for a long time. This ancient city, now an archaeological park of over 64 acres, served as a vital harbour town and market on the monsoon routes of the Indian Ocean. It connected eastern Africa with the Hindu-Iranian regions, and the Orient (China and Inner/Central Asia) with the Occident (the Roman empire and Byzantium). The site's history spans about 15 centuries, from the 3rd-4th Century BCE until the 12th–early 13th Century CE, connecting Banbhore to northern regions and Inner-Central Asia well before the Muslim faith arrived in Pakistan. Italian missions have been unearthing archaeological evidence that confirms Banbhore's major role since pre-Islamic times through the Parthian-Kushan, Saka, and Sasanian eras. In Islamic times, the site served as a key outlet to the sea for the Arab Abbasid Province of Great Sindh and later the Habbari Emirate. With the disintegration of the Emirate in the early 11th Century, Banbhore became the capital of an autonomous dominion, while maintaining for a couple of centuries its significance as harbour town and market for luxury goods, until the Indus River changed its course and sadly condemned the site to a slow death. Many more achievements could be mentioned, but more importantly much more can be done. With the Italian team in Islamabad and Karachi, I renew my commitment to broaden and strengthen the bonds between the two Countries and Peoples. Viva la Repubblica italiana! Pak-Italy dostizindabad! Copyright Business Recorder, 2025
