Europe open: Stocks rise again as tariff fears ease

15th Apr 2025 08:32

(Sharecast News) - European stocks were trading at their highest in nearly two weeks on Tuesday with markets rising for the second straight day as trade war fears eased - at least temporarily.

By 0918 CEST, the Stoxx 600 index was up 0.6% at 502.65, with small losses in Paris offset by decent gains elsewhere. The Stoxx 600 hasn't closed above the 500-point mark since 3 April.

Markets rose on Monday after the news that the Trump administration had exempt Chinese-made smartphones and certain consumer electronics from trade tariffs, raising hopes that the two economic powerhouses could potentially reach a trade deal at some point in the future.

"The optimists are beginning to hope that the most recent pronouncements from the White House represent a dialling down of the extreme measures initially proposed, with the car industry potentially joining some of the technology sector in seeing lesser tariffs," said Richard Hunter, head of markets at Interactive Investor.

On the macro front, figures from the Office for National Statistics showed that the UK unemployment rate was steady at 4.4% in the three months to February. The data also showed that growth in annual average weekly earnings excluding bonuses was 5.9%, up from 5.8% the month before.

At 1100 CEST, the ZEW German economic sentiment index will be released, along with figures for eurozone industrial production.

Market movers

Oil group TotalEnergies rose in Paris after saying that it expects an increase in production over the first quarter, along with a rise in its refining margins, while French advertising giant Publicis gained after a 4.9% increase in organic revenues beat forecasts.

German personal care products maker Beiersdorf was trading flat despite topping sales forecasts with its first-quarter results, as it reiterated its full-year outlook.

In London, discount retailer B&M was putting in solid gains after saying that full-year adjusted profits would be above the mid-point of guidance.

Leading the fallers on the Stoxx 600 was Dutch surveying services firm Fugro, which tanked 12% after a profit warning, cutting its estimates for first-quarter revenues and earnings.

Luxury stocks were firmly out of favour, including LVMH, Dio, Burberry, Puig Brands, Brunello Cucinelli and Pernod Ricard.