European Stocks Rebound Amid Tariff Turbulence
European stocks recovered from a three-week low, ending the week slightly higher, driven by gains in the financials and industrials sectors. Spanish stocks led the regional markets, with European insurers recovering after a losing streak. Tariffs on Chinese steel impacted the market, while U.S.-imposed tariffs affected healthcare and truck sectors.
European stocks staged a comeback on Friday, bouncing back from three-week lows with significant gains in the financials and industrials sectors. The STOXX 600 climbed 0.8%, closing the week just marginally higher, mostly unaffected by market turbulence.
Spanish stocks outperformed their regional counterparts, gaining 1.3% to reach a one-week high. Insurance companies across Europe, including Munich Re and SCOR, rose by 2.1%, breaking a losing streak.
The construction sector saw a 1.1% rise, partly driven by news of the European Commission's planned tariffs on Chinese steel. However, new U.S. tariffs announced by President Trump, particularly affecting drug and truck sectors, introduced further volatility. Despite these pressures, markets adjusted expectations for Federal Reserve rate cuts, maintaining cautious optimism.
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