FX.co ★ European Stocks Close Firmly Higher

European stocks experienced a robust uptick on Friday, effectively offsetting losses from the preceding two days. This upward movement unfolded as investors reevaluated the repercussions of new US tariffs and the extent to which European corporate titans would navigate fluctuating global rates. Specifically, the Eurozone's STOXX 50 index climbed by 0.9% to reach 5,495 points, while the broader STOXX 600 index rose by 0.7% to 554 points. Gains were predominantly driven by major banking institutions, spurred on by a decrease in long-term bond yields across the euro area. This environment propelled institutions such as BBVA, BNP Paribas, Nordea, and Intesa Sanpaolo, each advancing by more than 2%. Concurrently, ArcelorMittal experienced a 3% surge following news that the European Commission plans to levy tariffs ranging from 25% to 50% on Chinese steel imports. However, the pharmaceutical sector underperformed after U.S. President Trump announced a 100% tariff on patented products, causing shares in companies like Novo Nordisk and Roche to fall by 3.5% and 1%, respectively. Additionally, Daimler saw its shares decline by 1.9% in reaction to the United States implementing a 25% tariff on heavy trucks. Over the week, the STOXX 50 rose 0.7%, whereas the STOXX 600 remained steady.