(Reuters) – European shares rose slightly on Monday as rising energy stocks extended support, while markets weighed fears of a major trade war following President Donald Trump’s warning to impose tariffs on all steel and aluminium imports into the United States.
The pan-European STOXX 600 index was up 0.3% as of 0810 GMT. The benchmark on Friday logged its seventh straight weekly advance.
Trump over the weekend said he would announce on Monday new 25% tariffs on all steel and aluminium imports and reveal other reciprocal tariffs on Tuesday or Wednesday.
Germany’s 10-year bond yield, the benchmark for the euro zone bloc, was down at 2.37% after the new tariffs pledge.
Interest rate sensitive real estate shares added 0.9%.
Oil and gas index was the top winning sector, climbing 1.4%. The index was boosted by a 6.4% jump in oil major BP after activist investor Elliott Investment Management took a stake in the company.
Basic resources fell 0.4% on Trump’s pledge to impose tariffs on steel and aluminium imports.
GTT Group fell 5.4% to the bottom of STOXX 600 after the French engineering company’s chief executive, Jean-Baptiste Choimet, resigned.
(Reporting by Nikhil Sharma; Editing by Mrigank Dhaniwala)
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