(Reuters) -European shares steadied on Monday, aided by a bounce in technology and mining stocks, after worries about growing U.S.-China trade tensions hammered markets on Friday.
The pan-European STOXX 600 index rose 0.6% by 0719 GMT, having dropped 1.3% on Friday after U.S. President Donald Trump threatened 100% duties on Chinese imports and sent markets into a tailspin.
While Asian stocks plunged, European markets and Wall Street futures recovered – pointing to an improving mood as Trump sounded more conciliatory over the weekend.
France’s CAC 40 climbed 0.9%, the most among major European markets, after Sebastien Lecornu was reappointed as the prime minister on Friday, just four days after he had resigned from the role.
Shares of AstraZeneca rose 0.7% after U.S. President Trump unveiled a deal under which the UK-based drugmaker will sell some medicines at a discount to the government’s Medicaid health plan in exchange for tariff relief.
PSI Software surged 37% towards its highest since 2021 after private equity firm Warburg Pincus was set to buy the German software firm for more than 700 million euros ($813.26 million), confirming Reuters reports about the deal and the offer price.
Exosens jumped nearly 13% after Greek night vision systems maker Theon International said it plans to buy a 9.8% stake in its French peer. Theon’s shares dipped 4.6%.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Mrigank Dhaniwala)
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