14.04.202515:53:45UTC+00European Stocks Close Sharply Higher

European markets experienced significant gains on Monday following a temporary pause announced by U.S. President Trump on his reciprocal tariff package targeting various computer and consumer electronics products. The Eurozone's STOXX 50 surged by 2.4%, closing at 4,901, while the pan-European STOXX 600 rose by 2.6% to reach 499.5. This pause affects the standard 10% tariff applicable to all countries, though a 20% tariff on Chinese goods continues to be enforced. President Trump also indicated that tariffs on phones, computers, and popular consumer electronics would still be implemented, with forthcoming details on a tariff rate for semiconductors.

Banks and insurance firms spearheaded the market upturn, supported by gains in bonds across the Eurozone and narrowing yield spreads among member countries. Notable advances were observed in the shares of BNP Paribas, UniCredit, Santander, and Munich Re, which climbed between 4% and 6.5%. Meanwhile, LVMH saw a 1% increase in anticipation of its revenue announcement post-market close.