Europe close: Stocks rebound but end off best levels amid trade tensions

(Sharecast News) - European markets rebounded on Thursday after US President Donald Trump paused his swingeing tariff measures for 90 days amid accusations of market manipulation. However, the White House also clarified that America's tariff on Chinese goods now stood at 145%, not 125% as was reported the day before, and outlined other measures.

Those clarifications stoked concern that the trade tensions between the US and China were continuing to worsen - although that remained to be seen.

The pan-regional Stoxx 600 index was up 3.7% with all major bourses following suit. Germany's DAX climbed 4.53% and France's CAC-40 added 3.83%.

There were winners all over the board after four days of selling. Tech firms and banks were among the major gainers.

On the downside, UK supermarkets were in the red after Tesco warned on earnings, while Barry Callebaut plummeted after the Swiss chocolate maker lowered sales guidance amid high cocoa prices.