European shares closed higher in broad-based gains today, as risk sentiment swelled after US President Donald Trump granted tariff exclusions on smartphones and computers imported from China, bringing some respite after weeks of turmoil.
The CAC in Paris closed 2.3% higher at 7,273, while the DAX in Frankfurt was up 2.8% to 20,954 and London's FTSE index was up 2.14% to 8,134.
Dublin's ISEQ index closed 3% higher at 9,943. Shares in AIB were up 5% to €5.64, while shares in Origin Enterprises were up 4.67% to €3.14. Meanwhile, shares in Datalex were down 2.86% to 34 cents, while shares in FBD were down 0.77% to €12.90.
US shares joined the European rally. Boosted by technology shares, the Dow Jones Industrial Average rose about 1%, while the S&P 500 and the Nasdaq Composite both added about 1.2%. Apple shares jumped around 3%.
The S&P 500 rallied 5.7% last week, but was still more than 5% below where it was before what Trump calls "reciprocal" tariffs were first announced in early April.
The 90-day pause on reciprocal tariffs and further concessions over the weekend "lessen the near-term probability of a recession," Morgan Stanley US equity strategists wrote in a note today.
Still, they noted that the back-and-forth on policy is still likely to exacerbate uncertainty for businesses and consumers.
"The equity market will likely remain in a wide trading range with high volatility until we have more certainty on the depth of the growth slowdown and the timing of a recovery," they wrote.
