The STOXX 50 was up 0.8% and the STOXX 600 soared 0.6% on Monday, rebounding from Friday's losses, as traders hope the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated. Reports emerged that President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened.
Meanwhile, traders were also digesting fresh PMI data, with figures for France beating forecasts while in Germany, both composite and services PMIs came below forecast although the manufacturing one beat. Basic resources, tech and banks were the top performing sectors, alongside defense while food and telecom stocks were under pressure.
Source: Trrading Economics