European Stocks Boosted Amid Trade Court Ruling
European stocks rose after a U.S. trade court blocked Trump's tariff proposals. The STOXX 600 index increased, albeit with caution due to trade uncertainties. The U.S. dollar gained strength, and Nvidia's strong sales lifted tech stocks. Luxury and materials sectors saw gains, though utilities and real estate declined.
European equities experienced a boost on Thursday following a U.S. trade court's decision to halt President Trump's proposed tariffs, buoying investor sentiment despite ongoing trade uncertainties. The STOXX 600 index climbed by 0.2%, with Germany's DAX 40 nearing record levels, reflecting cautious optimism across regional markets.
The Court of International Trade's ruling highlighted an overreach of authority by Trump regarding the imposition of duties on U.S. imports, leading to an appeal by his administration. This development introduces a possible market boost if the Supreme Court rules these tariffs illegal, as noted by Fiona Cincotta of City Index.
In the U.S., the dollar strengthened against major currencies, and stock futures on Wall Street surged over 1.5%. Nvidia's impressive performance further spurred tech stock gains in Europe. Meanwhile, luxury and materials stocks saw upward shifts, despite declines in utilities and real estate sectors.
(With inputs from agencies.)
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