Sept 26 (Reuters) – European shares bounced back from three-week lows on Friday with a boost from financial and industrial stocks, although the blow to healthcare stocks following U.S. President Donald Trump’s latest tariff salvo kept a lid on gains.
The pan-European STOXX 600 (.STOXX), opens new tab rose 0.3% to 552 points by 0717 GMT.
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European insurers (.SXIP), opens new tab were among the early leaders, up 1.2% after falling for the last three sessions.
Construction and materials (.SXOP), opens new tab gained 0.8% coming off a near 1.5% drop in the previous session.
Steel stocks Thyssenkrupp (TKAG.DE), opens new tab and Salzgitter (SZGG.DE), opens new tab gained 1.3% and 2,6% respectively, after German business daily Handelsblatt reported that the European Commission plans to impose tariffs of 25% to 50% on Chinese steel and related products.
Meanwhile, healthcare stocks (.SXDP), opens new tab dipped 0.2% after Trump unveiled a new round of punishing tariffs, including 100% duties on branded drugs.
He also announced a 25% levies on heavy-duty trucks, dragging the shares of truckmakers Daimler Truck (DTGGe.DE), opens new tab and Traton (8TRA.DE), opens new tab down over 2% each.
Later in the day, focus would turn to a key inflation reading in the United States that could help assess the Federal Reserve’s policy path.
Reporting by Shashwat Chauhan in Bengaluru and Amir Orusov in Gdansk; Editing by Harikrishnan Nair
