European stock markets show steady growth at the beginning of the trading week
Amid the U.S. decision to exclude electronics from the tariff list, European stock indexes posted steady growth, particularly in the technology and banking sectors.
Photo: Nicholas Cappello, Unsplash
On Monday, April 14, European stock markets are showing steady growth amid reports of a softening in U.S. trade policy, Interfax-Ukraine reports.
As of 11:44 a.m. Central European Time, the Stoxx Europe 600 index of the region’s largest companies had risen by 2.13%, reaching 497.19 points.
Markets reacted to the news that the United States had temporarily excluded dozens of electronics categories, including smartphones, computers, and microchips, from the list of products subject to retaliatory import tariffs.
Growth was recorded on the region’s main exchanges:
- UK's FTSE 100 rose by 1.88%;
- Germany's DAX — by 2.5%;
- France's CAC 40 — by 2.15%;
- Italy's FTSE MIB — by 2.4%;
- Spain's IBEX 35 — by 1.83%.
Investors responded positively to signs of reduced pressure on the tech sector.
Shares of chipmakers, including Soitec, STMicroelectronics, ASML Holding, and Infineon Technologies, rose between 2.7% and 7.1%.
Significant gains were also seen in the shares of banks such as Deutsche Bank (+5%) and BNP Paribas (+4.1%), as well as car manufacturers and luxury goods producers. The top performers included Rubis (+8.7%) and Logitech International (+7%).
Earlier, Asian stock exchanges also closed in positive territory, reacting to the U.S. softening its stance on high-tech imports — authorities abandoned additional duties on key electronics, including smartphones and chips, which encouraged investors to buy.