On Tuesday, the 2nd of July, European shares had wrapped up the day comfortably higher despite fresh concerns of EU-US conflict over tariff after Trump had threatened to impose an added tariff on an additional European goods worth of $4 billion.
Surprisingly, investors had brushed aside Trump’s tariff threat in the context of a new trade pact signed with South America’s largest business bloc, Mercosur, comprised of Argentina, Uruguay Paraguay and the largest South American economy, Brazil, while utilities and consumer stocks had mostly led Tuesday’s (July 2nd) rally.
After adding more than 0.8 percent on Monday (July 1st) over US-China trade optimism, Pan-European STOXX 600 added 0.4 percent on Tuesday (July 2nd) and opened higher on Wednesday (July 3rd) morning European trading hours, while adding that Trump’s tariff threat would be a drop in the ocean, an analyst at Tavira Securities, Keith Temperton said, “EU tariffs are just a comment, not an actuality.
So, for now, it’s fairly unimportant and tiny anyway”. Quoting statistics, on Tuesday (July 2nd) market wrap-up, London’s FTSE 100 was up by 0.48 per cent to 7,596.36 and Germany’s trade-sensitive DAX rose by 0.55 per cent, while French CAC 40 added 0.45 per cent to 5,601.81.