EUROPEAN SHARES EDGES HIGHER –The pan-European STOXX 600 index rose 0.5%
European shares edged higher today, recovering some ground after three straight sessions of declines, while Swiss stocks slumped to their lowest in more than three months as investors digested a hefty 39% U.S. tariff rate on Switzerland.
The pan-European STOXX 600 index rose 0.5%, after logging its biggest daily drop in more than three months on Friday.
Switzerland’s benchmark SMI index fell 0.8% as trading resumed after a long weekend, with the top 10 decliners on the STOXX 600 being Swiss stocks.
Swiss manufacturers are warning of major job losses after the U.S. hit key exports with steep tariffs. The 39% levy—nearly triple the rate faced by the EU, Japan, and South Korea—threatens Switzerland’s top export industries, including pharmaceuticals, watches, and machinery.
In Frankfurt, the DAX was up 1.3% some two and a half hours into trading as analyst Oliver Roth of Oddo BHF said Trump’s tariffs remained the focus of investors.
