London: European stock indices closed higher at the close of Tuesday’s trading.
According to Qatar News Agency, the Stoxx Europe 600 index closed 0.3 percent higher, following a 1 percent rise on Monday after Trump’s decision to grant the European Union a reprieve regarding his threat to impose 50 percent tariffs.
The European defense industry sub-index experienced a significant increase, jumping 1.7 percent to an unprecedented high. This surge came after Trump announced he would recommend additional sanctions on Moscow, amid escalating tensions between Russia and Ukraine.
Technology stocks saw a rise of 1.1 percent, while manufacturing stocks increased by 0.9 percent. Germany’s DAX 40 index notably closed up 0.8 percent, reaching an all-time high after a survey suggested that consumer confidence is expected to improve slightly by June.
Britain’s FTSE 100 index closed up 0.7 percent, whereas France’s CAC 40 index remained largely unchanged. This stability followed preliminary data indicating that inflation in May fell to its lowest level since December 2020.