European stocks attempt to recover from worst day of 2019

European stocks rose today, for the first time in the last 3 days, to rebound from 5-week lows, in recovery attempts after hitting the biggest daily loss during this year, while these attempts are being limited due to fears about the recently announced US tariffs against European imports.

Stoxx Europe 600 was higher by 0.2% as of 10:51 GMT, while it closed yesterday lower by 2.6%, and 5-week low, to rebound today after two days of sharp losses, and so did most of the European markets and sectors.

The prior session’s sharp losses were the biggest during this year, and the worst since December, due to mounted worries about the trade dispute between the EU and the US, in addition to the continued weak economic data by most major economies.

The US announced yesterday that it plans to impose tariffs on EU imports and revealed a list of the European products that will be targeted by the tariffs.

Which came after the World Trade Organization granted the US permission to impose tariffs on on $7.5 billion worth of imports from the EU. due to illegal support for Airbus over Boeing.

S&P 500 futures rose by 0.2%, after it posted its largest daily loss since August 23rd at 1.8% yesterday at Wall Street.

Euro Stoxx 50 rose by 0.25%, in France the CAC 40 also ose 0.4%, and the German stocks were absent due to a public holiday.

While in London the FTSE 100 fell by 0.5%, to continue falling for the third straight day, after the British PM Boris Johnson revealed his final proposal on the Brexit which increased the odds for a no-deal Brexit scenario.