European shares steady amid investor evaluation of US customs duties developments

European stocks witnessed a state of stability today, Tuesday, at a time when investors are holding the repercussions of the new proposals of US President Donald Trump on customs duties on a group of countries.

According to CNBC, the European index “Stoxx 600” settled at the level of 543.17 points, the German DAX rose by 0.1% to the level of 24097.54 points, the British Fotsi 100 index settled at 8812.43 points, and the French CAC index settled at 7716.56 points.

On Monday, Trump sent messages to 14 countries, including Japan and South Korea, in which he revealed his intention to impose a much higher customs duties on the imports of these countries to America, as of August 1.

The limited deadline for trade agreements with the United States was extended from July 9 to August, but Trump indicated that this date is not strictly permanently, expressing his willingness to consider granting extensions to countries that are submitting negotiating proposals.

According to European sources, the European Union did not receive a message from Washington related to the imposition of higher customs duties, and officials in Brussels hope to obtain exemptions from the 10%American basic fees.

The European real estate sector decreased by 0.6%, while the shares of the basic resources sector increased by 0.7%.

The shares of the Belgian biotechnology company “Argenx” recorded 1.4%gains, after “Deutsche Bank” raised its recommendation to the stock from “keeping” to “purchase”.