Stock markets rebound after latest Donald Trump tariff U-turn
The picture was much the same across Europe after Mr Trump said he would extend a deadline for talks into July.
Markets in London and New York were closed for a long weekend.
The Stoxx Europe 600 Index gained 1pc. In Ireland, the Euronext Dublin was up slightly less, with the Iseq 20 index of leading Irish shares gaining 0.92pc, with broad gains across sectors.
The rebound came after stocks fell in Europe on Friday when Mr Trump threatened a shock 50pc levy on the EU starting June 1.
He had complained that the EU lacked urgency in trade talks and unfairly targeting American companies with lawsuits and regulations.
The rebound on Monday came after he agreed to push the deadline for a deal to July 9 following a phone call with European Commission president Ursula von der Leyen.
"This is nothing more than the usual 'threat and retreat' that has been the modus operandi of this tariff tennis we have witnessed since the start of the year," said Florian Ielpo, head of macro research at Lombard Odier Investment Managers.
"European valuations outperforming in this context and the EUR progressing vis-a-vis the dollar are yet more signs that European stocks continue to look attractive in this high-uncertainty environment."
The EU had been slated for a 20pc tariff under the reciprocal rates announced in April, and a temporary pause took the rate down to 10pc through July 9.
Ensuing expectations for a trade deal lifted sentiment, with the Stoxx 600 bouncing 18pc from an April low through its recent high last week.
Cyclical stocks had a sharp rally.
"'Less bad news' has been lifting valuations, but now we need 'more good news' to fuel this rally – good news on both the fiscal front and the growth front," said Mr Ielpo.
Among individual movers, Thyssenkrupp AG advanced 8.3pc after it said it planned to become a strategic holding company with independent business segments.
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