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European stocks rebound at open as Trump concerns ease

Donald Trump's announcement last week that he will put tariffs on imports of steel and aluminium sent global markets into a tailspin, though there are hopes the final measures will not be enough to spark a trade war
AFP

London (AFP) – Europe’s main stock markets rebounded in opening deals on Tuesday, mirroring a broad rally in Asia, as concerns eased over Donald Trump’s planned trade tariffs.

In initial deals, London’s benchmark FTSE 100 index of top blue-chip companies rose 0.8 percent to 7,171.37 points compared with the closing level on Monday.

In the eurozone, Frankfurt’s DAX 30 jumped 1.1 percent to 12,229.29 points and the Paris CAC 40 won 0.7 percent to 5,203.11.

And in Italy, the FTSE MIB in Milan opened 1.0 percent higher at 22,049.90 points, having shed 0.4 percent the previous day in the wake of Italy’s uncertain election outcome.

President Trump had sparked fears of a global trade war late last week when he unveiled plans to slap levies on imports of steel and aluminium.

The news sent markets tumbling, with investors already on edge at the prospect of rising interest rates and the end of crisis-era central bank stimulus measures.

However, doubts are now starting to emerge about whether Trump will press ahead with his extreme protectionist policies, dealers said.

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