European shares dipped on Friday as caution prevailed after a U.S. court reinstated President Donald Trump’s tariffs, even as the benchmark index neared a robust monthly gain.
The continent-wide STOXX 600 index (.STOXX), opens new tab was down 0.1%, as of 0711 GMT, pressured by a temporary reinstatement of the most sweeping of Trump’s tariffs a day after another court ordered an immediate block on them.
However, the benchmark index was set for its first monthly advance in three, up 3.8% so far, capitalising on easing trade tensions and the recent U.S. fiscal concerns that forced investors to move away from American assets.
European shares ease after court blocks Trump’s tariffs
On Friday, data showed German retail sales fell by 1.1% in April compared with the previous month. Investors also looked ahead to Germany’s May inflation figures, to be released later in the day, that could offer more clues about the European Central Bank’s policy decision next week.
Among sectors, basic resources was the biggest drag and fell 0.9%, dragged by lower copper prices.
The real estate supported the main index by rising 0.8%.
M&G jumped 8.2% after it said Japanese life insurer Dai-Ichi Life Holdings will take a 15% stake in the British insurer and asset manager as part of a strategic deal.
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