European Equities Show Resilience as US Tariffs Take Effect

European markets opened mostly higher on Thursday, navigating through the immediate impact of the United States' new reciprocal tariffs. The tariffs, initiated by President Donald Trump, officially came into effect at midnight Eastern Time, marking a significant moment in US-EU trade relations. Despite the recent US trade deal, the European Union faces a 15% duty on its exports, with other countries like Switzerland encountering even higher rates.

Bank of England's Monetary Policy Decision Awaited

Investors are also keenly awaiting the Bank of England's (BoE) upcoming monetary policy announcement. Expectations are high for an interest rate cut, a move that could further influence market dynamics across Europe and beyond.

Market Performance Overview

The DAX saw a modest increase of 0.29%, while the pan-European Euro Stoxx 50 advanced by 0.64%. The CAC 40 also edged higher by 0.24%, contrasting with the FTSE 100's slight decline of 0.3%.

Currency Movements

In currency markets, the euro appreciated by 0.13% against the dollar, trading at $1.16751 by 7:59 am CET. Similarly, the pound strengthened by 0.11% against the dollar, reaching $1.33695.