LIVE MARKETS-European bourses shrug off Trump's tariffs
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EUROPEAN BOURSES SHRUG OFF TRUMP'S TARIFFS
Surprising the world, European stocks are outperforming, bouncing back from three-week lows, undisturbed by U.S. President Donald Trump's latest tariff threats.
The pan-European STOXX 600 .STOXX rose 0.5%. With European insurers .SXIP, luxury .STXLUXP, travel and leisure .SXTP leading the gains up between 1% and 1.5%.
Asian shares sank after Trump announced the U.S. would impose 100% duties on imported branded drugs, 25% tariffs on heavy-duty trucks and 50% tariffs on kitchen cabinets.
But across Europe, even healthcare stocks rose 0.2% after Trump unveiled heavy tariffs on branded drugs.
"It seems markets are not spooked by tariff noise anymore," Neil Wilson, UK Investor Strategist, Saxo Markets.
"We had risk-off yesterday as yields rose but seeing bit of rotation today and seems to be compositional - oil up, financials up, which is positive for the indexes. Also weaker sterling and euro is good for equities."
(Joice Alves)
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EARLIER ON LIVE MARKETS:
STOCKS COP ONE-TWO PUNCH CLICK HERE
EUROPE BEFORE THE BELL: TRUMP DOES IT AGAIN CLICK HERE
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