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The pan-European STOXX 600 extended earlier gains to close 0.8% higher at 630.56 points, with most regional benchmarks also finishing in positive territory.
The U.S. top court ruled against Trump’s global tariffs enacted under a federal law meant for national emergencies.
The levies that he introduced in April last year included a baseline duty of 10% on all imports to the United States and specific additional duties on goods from most countries.
“It has good elements to it and slightly less good elements, because it will increase this legendary uncertainty that markets, of course, always fear,” said IG chief markets strategist, Chris Beauchamp.
Beauchamp added he expected the U.S. president to try to impose tariffs through different methods, which markets will need to price in down the road.
Earlier this year, Trump threatened European nations with tariffs as leverage to seize Greenland, only to later back down from the threats that had rattled the NATO alliance. The personal and household goods sector sub-index added 2.2%, while the luxury sector rose 2.9%.
Luxury brand Moncler jumped 13.4% after reporting a 7% rise in revenue in the fourth quarter, helped by solid growth in Asia and the Americas.
The STOXX index marked its biggest weekly jump since early January as investors were also relieved by an overall improving corporate earnings outlook, while concerns that new artificial intelligence models could imminently disrupt traditional businesses temporarily took a back seat.
Banks , which had witnessed sharp losses at the peak of the AI-disruption selloff, were among the top sectoral performers this week with about 5% gains.
Energy stocks bucked the trend on Friday, slipping 0.6% after the previous session’s 0.8% jump, as oil prices hovered near six-month highs.
On the economic front, data showed euro zone business activity accelerated faster than forecast this month as manufacturing swung back to growth for the first time since October.
Meanwhile, European Central Bank President Christine Lagarde has attempted to calm speculation about her stepping down early, telling the Wall Street Journal she expected to complete her term.
Back in the markets, life sciences firm Siegfried slid 8.8% after its annual revenue slightly missed analyst expectations.
Italian insurer Unipol gained 8.7% after reporting a 36.8% rise in its full-year profit.
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https://economictimes.indiatimes.com/markets/us-stocks/news/global-markets-europes-stoxx-600-hits-record-after-us-supreme-court-strikes-down-trump-tariffs/articleshow/128632659.cms
