Most European stock indices erased their previous losses that they had incurred in the first sessions of the week, recovering during trading on Tuesday amid expectations that the US administration may take some time before announcing tariffs on European countries, after Trump hinted at the possibility of excluding the United Kingdom following the postponement of imposing a 25% tariff on both Canada and Mexico.
The Italian and Spanish indices led the session's gains, with the main European stock index Euro Stoxx 600 driven by strong profits from Italian automaker Ferrari and Swiss bank UBS, as well as French bank BNP Paribas, which significantly exceeded expectations, in addition to the announcement of positive forecasts for the new year. However, the British index declined in anticipation of the Bank of England's interest rate decision next Thursday, amid expectations that the bank will halt its rate-cutting cycle.
The performance of the European stock indices at the close was as follows: The European stock index Euro Stoxx 600 rose by 0.22% to close at 536.04 points. The French CAC 40 index increased by 0.66% closing at 7,906.40 points. The German DAX index climbed by 0.36% to record 21,505.70 points at the close. The British FTSE 100 index decreased by 0.15% to finish the session at 8,570.77 points. The Italian FTSE MIB index advanced by 1.38% to record 36,719.35 points at the close, after Ferrari's stock price rose by more than 8%. The Spanish IBEX 35 index rose by approximately 1.37% to record 12,372.80 points at the close.
