Markets live: European stocks jump as Trump delays 50% tariff
The president said that he would delay imposing a 50% tariff on goods from the European Union until 9 July, extending trade negotiations with the bloc. They had been due to kick in on 1 June.
The move follows a conversation on Sunday with European Commission president Ursula von der Leyen.
Germany's DAX (^GDAXI) jumped 1.7% in early trade. Siemens (ENR.DE) and defence contractor Rheinmettal (RHM.DE) were among the top gainers.
The CAC 40 (^FCHI) in Paris also rallied 1.2%.
The pan-European STOXX 600 (^STOXX) rose 1%.
The FTSE 100 (^FTSE) is closed on Monday for the late-May bank holiday. Indices are also shut in the US for Memorial Day.
Naeem Aslam, CIO at Zaye Capital Markets, said:
Hello from London. It's a bank holiday here today, so the FTSE 100 is closed. US indices are also shut for Memorial Day so we won't be monitoring futures or the open today.
Europe is still open, however, and currently European stocks are trading higher on the promise of delayed Trump tariffs.
Let's get to it.
Naeem Aslam, CIO at Zaye Capital Markets, said:
Hello from London. It's a bank holiday here today, so the FTSE 100 is closed. US indices are also shut for Memorial Day so we won't be monitoring futures or the open today.
Europe is still open, however, and currently European stocks are trading higher on the promise of delayed Trump tariffs.
Let's get to it.
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