European stocks closed higher due to positive news on trade tariffs, World Economic Forum influence

From Nasdaq: 2025-01-20 12:50:49

European stocks closed higher on Monday, reacting positively to reports that the Trump administration will hold off on imposing trade tariffs. The World Economic Forum in Davos also influenced market sentiment. The pan-European Stoxx 600 edged up 0.05%, with the UK’s FTSE 100, Germany’s DAX, France’s CAC 40, and Switzerland’s SMI all closing higher. In the UK market, several companies like Fresnillo, Anglo American Plc, and Spirax Group gained 2 to 3%. In Germany, BMW rallied 3.2%, while Siemens Energy closed down by about 3.2% after a downgrade. In France, Stellantis, Kering, and Airbus Group closed higher.

Germany’s producer prices grew at a faster pace in December, with an annual increase of 0.8%. Eurozone construction production also saw growth in November, with a 1.2% monthly increase. In the UK, house prices increased by 1.7% in January, the largest jump since 2020. Switzerland’s producer and import prices continued to decline in December, but at a slower pace compared to the previous month.



Read more at Nasdaq: European Stocks Close Higher After Cautious Session