FX.co ★ European Stocks Rise on U.S. Tariff News and German Business Sentiment

The STOXX 50 experienced a 0.7% increase, reaching 5,450, while the broader STOXX 600 rose by 0.6% on Tuesday. This market movement came as investors absorbed recent updates regarding U.S. trade policy alongside improved German business sentiment. President Trump suggested that some of the tariffs scheduled for implementation on April 2 might not be enforced, leaving room for exemptions for certain countries. Nevertheless, he confirmed intentions to introduce new tariffs targeting the automobile and pharmaceutical sectors, as well as countries engaged in purchasing Venezuelan oil. In the meantime, Germany's Ifo Business Climate index rose to its highest level in eight months during March, driven by a significant debt agreement. Additionally, Ukraine and Russia reached a ceasefire agreement in the Black Sea region following separate discussions with U.S. officials in Saudi Arabia. In corporate developments, insurer Baloise saw a 4% surge following the announcement of a 60.6% increase in profits for 2024. Conversely, logistics giant Kuehne und Nagel experienced a 4% decline after forecasting a weaker full-year operating profit, and retailer Kingfisher plummeted 14% after reporting a 7% decrease in annual profits.