Europe open: Stocks bounce back after US announces trade deal with Japan

(Sharecast News) - Stocks in Europe are bouncing back from the previous day's losses after the US President announced a trade deal with several Asian countries which has lifted hopes for similar deals with the EU and India. "Traders didn't wait for the ink to dry," said Stephen Innes, managing partner at SPI Asset Management.

"The moment Trump announced a 15% tariff cap in a freshly minted trade deal with Japan-complete with explicit mention of autos-the market kicked into gear."

As of 1039 BST, the Stoxx 600 was advancing 1.16% to 550.67, alongside a 1.57% rise for the FTSE Mib to 40,807.96.

Germany's Dax meanwhile was up by 0.98% to 24,279.67.

Overnight, Donald Trump announced a deal for 15% tariffs with Japan, together with deals with Indonesia and Philippines.

Worth noting, US Treasury Secretary, Scott Bessent, said that the current trade truce with China would likely be extended beyond 12 August.