European equity close: The market takes the new tariffs in stride, at least so far

The White House hit Europe with steel and aluminum tariffs today and the EU responded with a batch of worth 26 billion euros. Trump has talked about further retaliation today and is touting European cars as a possible target on April 2.

Despite all that, European equity markets were in a good mood aside from Spain.

• Stoxx 600 +0.8%
• German DAX +1.5%
• France CAC +0.6%
• UK FTSE 100 +0.4%
• Spain IBEX -0.7%
• Italy’s FTSE MIB +1.6%

A late rally followed the bounce in the US but it’s the first day of gains following three days of declines in the DAX.

This article was written by Adam Button at www.forexlive.com.