FX.co ★ European Stocks Close Higher

European stocks concluded the trading session on a positive note on Tuesday, as investors evaluated the consequences of new US tariff policies on European exports. The Eurozone's STOXX 50 index rose by 0.5% to finish at 5,370, while the broader STOXX 600 climbed 0.4% to end at 545. The recent US tariff strategy targeted significant Asian trading partners and specific sectors, but notably excluded the European Union, highlighting European officials' comments that the US's minimum 10% tariff might soon be implemented. The automotive sector saw gains, as tariffs on Asian competitors boosted European automakers; BMW saw a rise of 2%, and Stellantis increased by 3%. Furthermore, UniCredit witnessed a 1.9% increase as speculation grew that the EU will dismiss the Italian government's stipulations regarding UniCredit's planned acquisition of Banco BPM, thus making the deal more probable. In markets beyond the Eurozone, Novo Nordisk experienced a 2% increase.