The STOXX 50 gained 0.6% and the STOXX 600 added 0.3% on Monday, rebounding from early losses, after the WSJ reported that US President will ask federal agencies to study trade with China and America's continental neighbours, but stop short of imposing new tariffs on his first day in office.
The news offered some momentarily relief to markets that were expecting some tariffs announced on the Inauguration day. Traders were also awaiting for any insights from Trump's speech and potential executive orders. Attention also shifts to the World Economic Forum kicking off in Davos, Switzerland.
On the data front, Germany's PPI showed a 0.8% year-over-year rise in December, marking the fastest gain since June 2023. On the corporate front, autos were among the biggest gainers, benefitting from the tariff news, particularly BMW (3.5%), Mercedes-Benz (2.7%) and VW (2%).
Source: Trading Economics
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