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Tuesday 20th March 2018

European Stocks Rise after Withdrawal of Mexico Tariff Threat

Business

7Dnews London

Mon, 10 Jun 2019 15:10 GMT

European shares rose on Monday, June 10th as strong export data from China and an agreement between the United States and Mexico helped revive markets somewhat after concern over the impact of US trade threats by President Donald Trump, Reuters has reported.

The European car sector has been boosted by signs that Fiat Chrysler and Renault are considering ways to revive a collapsed merger plan and ensure Nissan's approval.

The Stoxx 600 European index rose 0.3% by 07.13 GMT and Britain's Financial Times 100 index went up by 0.43%. Trading volumes were weak due to the close of markets in Germany, Switzerland, Austria and most northern European countries.

Car makers and suppliers shares, heavily affected by tariff threats, rose 0.6% after news of Trump's move away from threatening to impose a 5% charge on all goods imported from Mexico in return for the recent adoption of steps to curb illegal immigration. Fiat Chrysler climbed by 3% and Renault rose by 1%.


Europe