(Reuters) -European shares climbed on Thursday as a U.S. trade court’s decision to block President Donald Trump’s proposed tariffs sparked a risk-on sentiment across global markets.
The continent-wide STOXX 600 index was up 0.4%, as of 0715 GMT, with regional indexes also trading in the green. Germany’s DAX 40 rose 0.5% to hover near a record high.
The Court of International Trade ruled that Trump overstepped his authority by imposing the April 2 across-the-board duties on imports from U.S. trade partners.
On Wall Street, stock index futures rose by more than 1.5% as the court’s decision provided some relief from persistent trade uncertainties.
Overall sentiment was also lifted by AI bellwether Nvidia (NASDAQ: NVDA ), which surpassed quarterly sales expectations in after-hours trading on Wednesday.
European AI-exposed stocks such as ASML (AS: ASML ) and Schneider Electric (EPA: SCHN ) each gained about 3%, while the region’s technology index led sector gains with a 1.7% rise.
European carmakers, sensitive to tariff-centric pressures, rose in early trading. Shares in Stellantis (NYSE: STLA ) gained 2.5%, Porsche up 1% and Volkswagen (ETR: VOWG_p ) added 1.2%.
Investors also favoured luxury stocks, with Kering (EPA: PRTP ), Christian Dior (EPA: DIOR ) and Burberry (LON: BRBY ) rising between 3% and 3.6%.