Workers assemble cars on the assembly line at a Volkswagen automobile factory on March 7, 2025, in Wolfsburg, Germany.<\/p>\n
Sean Gallup | Getty Images News | Getty Images<\/p>\n
Shares listed in Europe shook off a negative open to trade higher on Friday, as investors continued to assess the full scope of the European Union’s trade deal with America.<\/p>\n
The pan-European Stoxx 600<\/a> was around 0.3% higher by 10:23 a.m. in London (5:23 a.m. ET), with most sectors in positive territory.<\/p>\n London’s FTSE 100<\/a> and the German DAX<\/a> were both marginally higher, while France’s CAC 40<\/a> added 0.2%.<\/p>\n Midway through Thursday’s trading session<\/a>, officials announced in-depth details of the deal struck between Washington and Brussels late last month.<\/p>\n In an\u00a0agreement reached last month<\/a>, the EU said it would spend $750 billion on U.S. energy and invest a minimum of $600 billion in the United States \u2014 in exchange, blanket tariffs on its goods were set at 15% instead of the 30% rate threatened by U.S. President Donald Trump.<\/p>\n An update on Thursday confirmed those details<\/a>, and revealed that pharmaceuticals exported from the EU to the U.S. will see tariffs capped at 15%. That alleviated some concerns, as U.S. President Donald Trump had previously threatened to slap the sector with tariffs as high as 250%.<\/p>\n Following a lackluster immediate reaction to the news, the Stoxx Europe Pharmaceuticals and Biotechnology index rose to close around 0.6% higher on Thursday.<\/p>\n On Friday, the index extended its gains to jump 0.6% higher. Swiss pharma firm Idorsia, which was up 7.4%, French biotech company Abivax<\/a>, up 5.5%, and Danish allergy treatment developer ALK-Abello<\/a>, up 5.7%, were among the top performers in the sector.<\/p>\n Automotive stocks, meanwhile, made gains after closing lower in the previous session as market participants reacted to the “conditional” nature of lower tariffs on the sector. Officials revealed on Thursday that duties on European exports to the U.S. would not be slashed from current levels until Brussels lowers its own industrial duties.<\/p>\n On Friday, the Stoxx Europe Automobiles and Parts index rose by 0.7%, with Stellantis<\/a>, Mercedes-Benz<\/a> and Ferrari<\/a> leading gains.<\/p>\n