European Shares Edge Lower After Thursday's Rally

(RTTNews) - European stocks slipped into the red on Friday after logging their biggest one-day gains since 2022 the previous day as U.S. President Donald Trump decided to delay new tariffs by 90 days.

The euro surged to the highest level against the dollar in over three years after the EU said it would suspend its planned countermeasures to Trump's tariffs for 90 days.

Sterling also jumped as new data showed Britain's economy picked up faster than expected in February.

French President Emmanuel Macron said today that the U.S. tariff suspension offers only a "fragile" pause in tensions — but a vital opportunity for negotiations.

The pan-European STOXX 600 was down 0.6 percent at 484.51 after rallying 3.7 percent on Thursday.

The German DAX dropped 0.7 percent, France's CAC 40 shed half a percent and the U.K.'s FTSE 100 slipped 0.4 percent.

Stellantis NV share slumped 4.2 percent. The auto giant reported that its first-quarter shipments fell 9 percent compared to last year.

BP Plc declined 2.3 percent. The energy group has warned of "weak" gas trading and higher debt in Q1.

In economic releases, the U.K. economy expanded at a faster than expected pace in February with increases in all main sectors, data from the Office for National Statistics revealed.

Real GDP grew 0.5 percent from the previous month following a nil growth in January. GDP was expected to climb 0.1 percent.

On a yearly basis, real GDP advanced 1.4 percent compared to economists' forecast of 0.9 percent.

Meanwhile, U.K. recruiters reported the steepest rise in permanent and temporary labor supply in more than four years in March, while job placements declined notably due to weaker economic confidence and tighter client budgets, according to a report compiled by S&P Global.