European Stocks Close Higher Ahead Of Trump's Levies

(RTTNews) - European stocks closed on a firm note on Tuesday as investors, despite continued uncertainty ahead of the launch of fresh tariffs by the U.S., indulged in some bargain hunting after successive days of losses.

Investors digested data on regional business activity and also monitored the developments on the geopolitical front.

Trump is expected to unveil his long-awaited proposals for reciprocal tariffs on Wednesday.

"Wednesday, it will be Liberation Day in America, as President Trump has so proudly dubbed it," White House press secretary Karoline Leavitt said.

"The President will be announcing a tariff plan that will roll back the unfair trade practices that have been ripping off our country for decades. He's doing this in the best interest of the American worker."

European Commission President Ursula von der Leyen said in a speech today that the European Union is open to negotiations with the U.S. on tariffs but will take retaliatory measures, if necessary.

"We will approach these negotiations from a position of strength. Europe holds a lot of cards, from trade to technology to the size of our market. But this strength is also built on our readiness to take firm countermeasures if necessary. All instruments are on the table," she said.

The pan European Stoxx 600 climbed 1.08%. The U.K.'s FTSE 100 gained 0.61%, Germany's DAX jumped 1.67% and France's CAC 40 closed up 1.1%, while Switzerland's SMI ended 0.7% up.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Sweden and Turkiye closed on a firm note.

Norway edged up marginally. Russia ended sharply lower, and Iceland closed flat.

In the UK market, Rolls-Royce Holdings rallied more than 4%. Hiscox, Rentokil Initial, Easyjet, JD Sports Fashion, Barclays Group, Halma, Babcock International, Pershing Square Holdings, Endeavour Mining, Fresnillo, Admiral Group, Auto Trader Group, BAE Systems, Polar Capital Technology, Natwest Group and Melrose Industries gained 1.5 to 3%.

WPP ended down 3.61%. Sainsbury (J), Informa, IAG, St. James's Place, Vodafone Group and Weir Group also ended notably lower.

In the German market, Commerzbank climbed more than 7%. Adidas, Siemens Energy, Rheinmetall, SAP, MTU Aero Engines, Heidelberg Materials, Deutsche Bank, Zalando, Infineon, RWE and Siemens closed higher by 1.5 to 3.4%.

Brenntag, Porsche, Beiersdorf and Covestro closed weak.

In the French market, L'Oreal, Airbus Group, Schneider Electric, BNP Paribas, Veolia Environment, ArcelorMittal, Bouygues, Thales, Credit Agricole, AXA, Renault, Edenred, Air Liquide and Michelin gained 1 to 3.2%.

The HCOB Eurozone Manufacturing PMI came in with a reading of 48.6 in March, slightly below the preliminary estimate of 48.7 but up from February's final reading of 47.6.

Flash data from Eurostat showed eurozone inflation softened in March on energy and services costs. The harmonized index of consumer prices rose 2.2% year-on-year in March, slightly slower than the 2.3% rise in February.

Core inflation that excludes prices of food, alcohol and tobacco, slowed to 2.4% from 2.6% in the previous month. Inflation was expected to slow marginally to 2.5%.

On a monthly basis, the HICP logged an increase of 0.6% in March

A separate data from Eurostat showed the unemployment rate in the Euro Area decreased to 6.1% in February from 6.2% in January of 2025.

Final data from S&P Global showed the HCOB Germany Manufacturing PMI rose to 48.3 in March 2025 from 46.5 in February, marking its highest level since August 2022.

Data from S&P Global said the HCOB France Manufacturing PMI rose to 48.5 in March 2025, slightly below initial estimates of 48.9 but up from 45.8 in February.

Data from the Nationwide Building Society showed house prices in the U.K. showed nil growth in March compared to February. This followed an increase of 0.4% in the previous month. On a yearly basis, house price growth remained unchanged at 3.9% in March.

Data from S&P Global said the UK Manufacturing PMI for March 2025 was revised up to 44.9 from an initial estimate of 44.6. Despite the upward revision, it remained the lowest reading in 17 months, down from 46.9 in February.