According to ChainCatcher, after the United States and the European Union reached a trade agreement, investors expect that automobile manufacturers and luxury goods manufacturers will lead a relief rally in the European stock market when markets reopen on Monday. On Sunday, US President Trump announced the agreement after meeting with European Commission President von der Leyen. According to the agreement, most export products from the EU, including automobiles, will face a 15% tariff. The EU leader stated that the tax rate is comprehensive, but Trump claimed it does not include pharmaceuticals and metals.
John Plassard, strategy director at Cité Gestion, said the agreement "is enough to release what the stock market needs most: predictability". He stated: "The risk of further tariff increases has now been excluded, and a major macro adverse factor has disappeared. For investors, this is not only a relief but also a green light signal." (Jinshi)
