BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks moved mostly lower on Friday after logging their biggest one-day gains since 2022 the previous day as U.S. President Donald Trump decided to delay new tariffs by 90 days.
The euro surged to the highest level against the dollar in over three years after the EU said it would suspend its planned countermeasures to Trump's tariffs for 90 days. Sterling also jumped as new data showed Britain's economy picked up faster than expected in February.
French President Emmanuel Macron said today that the U.S. tariff suspension offers only a 'fragile' pause in tensions - but a vital opportunity for negotiations.
The pan-European STOXX 600 Index edged down 0.1 percent to 486.80 after rallying 3.7 percent on Thursday.
The German DAX Index slid by 0.9 percent and the French CAC 40 Index fell by 0.3 percent, although the U.K.'s FTSE 100 Index bucked the downtrend and climbed by 0.6 percent.
The strength in the U.K. markets came after the data from the Office for National Statistics revealed the U.K. economy expanded at a faster than expected pace in February with increases in all main sectors.
Real GDP grew 0.5 percent from the previous month following a nil growth in January. GDP was expected to climb 0.1 percent. On a yearly basis, real GDP advanced 1.4 percent compared to economists' forecast of 0.9 percent.
Meanwhile, U.K. recruiters reported the steepest rise in permanent and temporary labor supply in more than four years in March, while job placements declined notably due to weaker economic confidence and tighter client budgets, according to a report compiled by S&P Global.
Stellantis NV share slumped 3.9 percent. The auto giant reported that its first-quarter shipments fell 9 percent compared to last year.
BP Plc also tumbled by 2.9 percent after the energy group warned of 'weak' gas trading and higher debt in the first quarter.
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