Published Sat, Feb 21, 2026 · 08:34 AM
[BENGALURU] Europe’s Stoxx 600 closed at a record on Friday (Feb 20) after investors welcomed the US Supreme Court ruling that struck down President Donald Trump’s sweeping tariffs.
The pan-European Stoxx 600 extended earlier gains to close 0.8 per cent higher at 630.56 points, with most regional benchmarks also finishing in positive territory.
The US 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 per cent on all imports to the US 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 US president to try to impose tariffs through different methods, which markets will need to price in down the road.
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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 per cent, while the luxury sector rose 2.9 per cent.
Luxury brand Moncler jumped 13.4 per cent after reporting a 7 per cent 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 sell-off, were among the top sectoral performers this week with about 5 per cent gains.
Energy stocks bucked the trend on Friday, slipping 0.6 per cent after the previous session’s 0.8 per cent jump, as oil prices hovered near six-month highs.
On the economic front, data showed eurozone 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 per cent after its annual revenue slightly missed analyst expectations.
Italian insurer Unipol gained 8.7 per cent after reporting a 36.8 per cent rise in its full-year profit. REUTERS
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