European financial markets experienced a significant boost after Donald Trump announced a 90-day pause on new tariffs for most U.S. trading partners, excluding China.

This was reported by the Financial Times.

The Stoxx Europe 600 index rose by 6.6% at the opening. The French Cac 40 increased by 6.8%, the German Dax by 7%, and the British FTSE 100 climbed by 5%.

At the same time, the yield on 10-year German Bunds rose to 2.69% (+0.11 percentage points), while the yield on British Gilts fell to 4.76% (-0.02 percentage points).

As a reminder, last week the U.S. president declared a "day of liberation" and threatened to impose large-scale "reciprocal" tariffs against dozens of countries. On Wednesday, he temporarily postponed most of these measures but raised tariffs on Chinese goods from 104% to 125%.