Shares of Europe’s largest steelmaker ArcelorMittal closed 0.58% lower
Europe stocks shrug off U.S. tariff threat to close at record high
European stock markets started the week on a positive note, appearing to shrug off President Donald Trump’s latest tariff announcement.
The pan-European Stoxx 600 closed with a 0.58% gain, at a record high of 545.92 points and with all sectors in the green.
U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday.
Shares of Europe’s largest steelmaker ArcelorMittal closed 0.58% lower, trimming earlier losses.
Last Friday, the major U.S. stock indexes fell after Trump said he was planning reciprocal tariffs on trading partners. However, Wall Street also looked past the new announcement with markets trading higher Monday led by technology stocks.
Shares in BP closed 7.4% higher following reports that activist investor Elliott Management had built a stake in the company. Elliott Management and BP have declined to comment on the reports, which do not specify the size of any potential stake accrued by Paul Singer’s hedge fund.
