European Stocks Close On Bright Note As Trump Delays EU Tariffs

(RTTNews) - European stocks on a bright note on Monday, as traders built up fresh positions at several counters across various sectors, reacting to U.S. President Donald Trump deciding to postpone the implementation of 50% tariffs on the European Union goods to July 9 from June 1.

The U.S. President has decided to pause the levy following a call from EU Commission President Ursula von der Leyen.

"The EU and US share the world's most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," Von der Leyen wrote on X.

The economic and earnings calendars were blank, and the U.S. President's delay proved a strong enough trigger for investors to pick up stocks.

The pan European Stoxx 600 climbed 0.99%. Germany's DAX climbed 1.68% and France's CAC 40 gained 1.21%. The UK market remained shut for Bank Holiday. Switzerland's SMI ended 0.97% up.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Spain and Sweden closed higher.

Czech Republic, Russia and Turkiye ended weak.

In the German market, Rheinmetall climbed about 3.3%. Siemens, Heidelberg Materials, Fresenius Medical Care, MTU Aero Engines, Continental, Volkswagen, Brenntag, Commerzbank, BASF, Adidas, Daimler Truck Holding, Mercedes-Benz, RWE, BMW, Zalando, Sartorius and Siemens Healthineers gained 2 to 3%.

In the French market, Stellantis rallied nearly 5% and ArcelorMittal climbed about 4.3%. Societe Generale gained 4%, while Teleperformance ended nearly 3.5% up.

STMicroElectronics, Saint Gobain, Pernod Ricard, Essilor, Safran, Thales, Airbus Group, BNP Paribas, Schneider Electric, Capgemini, Accor, TotalEnergies, Unibail Rodamco and Michelin advanced 1.3 to 3%.