At around 09h10 in Lisbon, the EuroStoxx 600 increased by 0.54% to 551.74 points.
London, Paris, and Frankfurt stock exchanges rose by 0.21%, 0.97%, and 0.93%, respectively, while Madrid and Milan gained 0.43% and 0.81%.
Lisbon’s stock exchange maintained its opening trend, with the main index, PSI, down 0.40% to 7,642.04 points at 09h10, against the current high since May 6, 2011, of 7,791.75 points recorded on July 9.
After initially reacting on Monday with gains of about 1% to the EU-US agreement (which specifies a 15% tax on European imports to the US rather than a 30% tariff threatened by President Donald Trump if no agreement was reached before August 1), markets later showed disappointment at the concessions made by the EU.
Today, markets opened slightly higher, awaiting more concrete details of the agreement and its implications.
The agreement between the EU and the US specifies a 15% tax on European imports to the United States.
Brussels had prepared a retaliation package, which would have triggered a trade war between the world’s two largest markets.
European Commission President Ursula von der Leyen indicated that the 15% tax will apply to key sectors, including cars, semiconductors, and pharmaceuticals, and involve EU purchases of energy and military equipment from the US.
Besides the EU and the US, international trade policy continues with tariff negotiations between the US and China in Stockholm, involving US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, two weeks before the end of the 90-day trade truce, which Washington proposes to extend.
In Asia, Tokyo’s Nikkei index closed down 0.79%, while the Shanghai index rose 0.33% and the Shenzhen index increased 0.64%. Hong Kong’s Hang Seng index fell 0.56% shortly before the end of the session.
Wall Street ended Monday on mixed results.
The Dow Jones closed down 0.14% to 44,837.56 points, compared to the record high since the index was created in 1896, of 45,014.04 points on December 4, 2024.
The Nasdaq, the high-tech stock index, rose 0.33% to a new all-time high of 21,178.59 points.
Meanwhile, the US Federal Reserve begins a new two-day meeting on interest rates today, with increasing pressure from President Donald Trump on Fed Chair Jerome Powell to “do the right thing” and cut rates.
The Fed’s decision on interest rates will be announced on Wednesday, and the Bank of Japan’s decision on Thursday.
Brent crude oil for September delivery fell to $70.03, compared to $70.04 on Monday.
West Texas Intermediate oil, the US benchmark, also dropped to $66.66, from $66.71, before the market’s official opening.
Gold per troy ounce, a safe-haven asset, was up to $3,313.96, compared to $3,312.29 on Monday, with the current record high of $3,432.34 on June 13.
The yield on Germany’s 10-year bond rose to 2.703%, from 2.688%.
Bitcoin increased 0.68% to $119,783, after hitting an all-time high of $120,280.72 on July 14.
The euro fell to $1.1535 in the Frankfurt foreign exchange market, compared to $1.1599 on Monday and a new high since September 15, 2021, of $1.1789 on July 2.
