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European Markets Rise on Court-Imposed Halt to U.S. Tariffs

Investor relief followed a judicial injunction halting planned levies on EU imports.

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Overview

  • The Stoxx 600 index climbed 0.4% with Paris up 0.9%, Frankfurt 0.54%, Madrid 0.2% and London edging 0.02%.
  • Technology stocks led gains, jumping 2% after Nvidia reported results above expectations and raised revenue forecasts.
  • Luxury goods shares rose 1.7% and auto stocks gained 1% while energy names added 0.7% as WTI crude jumped 1.8% to $62.95 and Brent rose 1.7% to $66.03 per barrel.
  • The euro weakened to $1.1275 against the dollar and the Italian-German 10-year yield spread held at 97 basis points with Italy’s bond yield at 3.55%.
  • Utilities fell 1.1%, gold dropped 1% to $3,281 an ounce and Bitcoin edged up 0.5% to about $107,872.