At approximately 08:45 in Lisbon, the EuroStoxx 600 rose by 0.78%, reaching 549.40 points.
The stock exchanges in Paris and Frankfurt saw increases of 1.07% and 1.35%, respectively, while those in Madrid and Milan rose 0.82% and 1.14%.
Following the trend from the opening, Lisbon’s main index, PSI, was up 0.19% at 08:45, reaching 7,345.11 points, after having climbed to 7,376.68 points on May 20, marking a new high since June 19, 2014.
The European markets opened by responding to U.S. President Donald Trump’s proposal to European Commission President Ursula von der Leyen to extend trade agreement talks until July 9 and to delay the imposition of a 50% tariff on the European Union (EU), which was initially set to be enforced from June 1.
With the euro strengthening by 0.41% to trade at 1.14 dollars, European stock markets recorded increases of over 1%, contrasting with the declines of over 1% seen at Friday’s close.
Last week, Wall Street ended in negative territory, with the Dow Jones Industrial Average down 0.61%, the S&P 500 dropping 0.67%, and the Nasdaq, the strongest technology index, falling by 1%.
The session was marked by declines following Trump’s threat to impose a 50% tariff on all EU goods starting June 1, although he softened his stance on Sunday after a conversation with Von der Leyen, extending the negotiation period until July 9.
The New York Stock Exchange is closed today due to “Memorial Day,” a national holiday in the U.S. observed annually on the last Monday of May.
Markets are also focusing today on European Central Bank (ECB) President Christine Lagarde, particularly following Trump’s threat of a harsher tone in trade negotiations, which has slightly raised expectations for an ECB rate cut.
Lagarde is scheduled to speak this afternoon at the Hertie School in Berlin, addressing Europe’s role in a fragmented world.
In Asia, Tokyo’s Nikkei index closed with a gain of 1%, whereas Shanghai’s benchmark index fell 0.05% and Shenzhen declined by 0.41%.
In the bond market, the 10-year German bond yield increased to 2.597%.
Oil prices were rising by approximately 0.30% in today’s session. Brent crude, Europe’s benchmark, gained 0.25% to reach 64.37 dollars per barrel, while West Texas Intermediate (WTI) was also up 0.31%, trading at 61.72 dollars before the official market opening.
Meanwhile, gold was down 0.80%, priced at 3,367 dollars per ounce.
Bitcoin was up 2.06%, valued at 109,945.4 dollars, and the euro appreciated to 1.1392 dollars.
