LIVE MARKETS-Upbeat start on tariff ruling, Paris outperforms

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UPBEAT START ON TARIFF RULING, PARIS OUTPERFORMS

Major European share markets have begun on a positive footing after a U.S. court blocked most of Trump's so-called reciprocal tariffs, boosting U.S. exposed sectors such as luxury names.

The pan-continental STOXX 600 .STOXX is up about 0.5%, a decent gain but still tempered by increased uncertainty that the court ruling brings. The U.S. administration said it would appeal, while industry-specific tariffs, such as those on autos and steel, were not ruled on by the court.

France's CAC 40 .FCHI outperforms, up 0.9%, supported by luxury names which are taking solace from the tariff ruling. Kering PRTP.PA, Dior DIOR.PA, LVMH LVMH.PA and Hermes HRMS.PA are up between 2%-3.4%.

Germany's DAX .GDAXI is up 0.7%, while Britain's FTSE .FTSE is flat. Swiss and Scandi markets are closed for Ascension Day.

Elsewhere, the tech sector .SX8P is strong following upbeat results from AI-leader Nvidia NVDA.O after hours on Wednesday. Some of the STOXX 600's best performers include ASM International ASMI.AS, BE Semi BESI.AS, STMicroelectronics STMPA.PA and Aixtron AIXGn.DE.

Here's your opening snapshot:

(Samuel Indyk)

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