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European Shares Gain After Four Days Of Losses
(RTTNews) - European shares opened higher on Tuesday, snapping a four-day losing streak on tariff-related worries.
European Commission President Ursula von der Leyen said the EU had offered U.S. President Donald Trump a "zero-for-zero tariffs" deal for industrial goods as part of the trade negotiations.
She has reiterated that the bloc was also prepared to impose countermeasures should talks fail. Trump promptly rejected the deal.
The pan-European STOXX 600 was up 0.7 percent at 477.32 after plunging 4.5 percent in the previous session to its lowest level in more than a year amid recession worries.
The German DAX gained 0.6 percent, France's CAC 40 edged up by 0.4 percent and the U.K.'s FTSE 100 rallied 1.5 percent.
German chipmaker Infineon Technologies AG fell 1.6 percent after it agreed to acquire Marvell Technology's automotive ethernet business for about $2.5 billion.
Defense-related stocks surged, with Rolls-Royce Holdings, Renk Group and Saab climbing 5-8 percent.
In economic releases, France's trade deficit widened to a five-month high in February on rising imports, data from the customs office showed.
The trade shortfall rose unexpectedly to EUR 7.9 billion in February from EUR 6.5 billion in January. This was the biggest deficit since September.
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