BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed higher on Tuesday, snapping a four-session losing streak, as mild optimism about U.S. President Donald Trump softening its tariff stance on some countries prompted investors to indulge in some buying.
Trump has reaffirmed Washington's new tariff policy but signaled his willingness to engage in dialogue with countries seeking more favorable trade terms.
'There could be permanent tariffs and there could also be negotiations... we're going to get fair deals and good deals with every country - and if we don't, we're going to have nothing to do with them,' Trump said during a meeting with Israeli Prime Minister Benjamin Netanyahu.
However, there is still some uncertainty about any major shift in Trump's stance, as he has rejected the European Commission's offer proposing removal of tariffs on industrial goods as part of trade talks.
The pan European Stoxx 600 surged 2.72%. The U.K.'s FTSE 100 closed up 2.71%, Germany's DAX ended higher by 2.48% and France's CAC 40 settled 2.5% up, while Switzerland's SMI climbed 2.82%.
Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye all closed higher.
In the UK market, Rolls-Royce Holdings, Experian, Hiscox, IAG, Games Workshop, Polar Capital Technology Trust, Beazley, RightMove, Babcock International Group, 3i Group, St. James's Place, Scottish Mortgage and Barclays gained 5 to 7%.
Ashtead Group, BAE Systems, Aviva, M&G, Compass Group, Phoenix Group Holdings, Reckitt Benckiser, Legal & General, Associated British Foods, Coca-Cola HBC, Halma, Melrose Industries, Glenco, Airtel Africa and Haleon were among the several other major gainers.
BT Group closed down 3.1%. Standard Chartered and Kingfisher lost 1.54% and 1.1%, respectively.
In the German market, Commerzbank, Heidelberg Materials, Sartorius, Rheinmetall, Siemens Energy, Munich RE, MTU Aero Engines, Deutsche Boerse, Hannover Rueck, Continental and Deutsche Bank gained 4 to 7%.
Siemens, Allianz, Bayer, Fresenius, Beiersdorf, Siemens Healthineers, Merck, E.ON, Adidas, Qiagen, Deutsche Telekom and Deutsche Post also moved up sharply.
BMW, Mercedes-Benz, Daimler Truck Holding, Porsche and Vonovia ended weak.
In the French market, Thales, Hermes International, Capgemini and Safran gained 4.5 to 4.8%.
AXA, Essilor, Accor, Societe Generale, Air Liquide, Schneider Electric, Saint Gobain, L'Oreal, Eurofins Scientific, Teleperformance, Edenred, Legrand, Danone, Pernod Ricard, Dassault Systemes, LVMH, ArcelorMittal, Unibail Rodamco, Vinci, Vivendi, Publicis Groupe and Airbus climbed 2 to 4%.
Stellantis, Renault, Carrefour and Orange closed weak.
On the economic front, data from the customs office showed France's trade deficit widened to a five-month high in February on rising imports.
The trade shortfall rose unexpectedly to EUR 7.9 billion in February from EUR 6.5 billion in January. Economists had forecast the deficit to narrow to EUR 5.4 billion. In February 2024, the trade deficit totaled EUR 5.7 billion.
Exports remained flat in February, while imports grew 2.4% from the previous month. On a yearly basis, exports were up 1% and imports moved up 0.6%.
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