European Markets Rise on Tariff Exemptions and Anticipation of ECB Meeting: European markets began the week with a notable rise
as investors awaited the European Central Bank’s (ECB) meeting to discuss monetary policy.
The U.S. announcement of tariff exemptions on certain tech products supported the rise.

Contents

European Indices
China’s Oil Import Surge

Japan’s Nikkei

European Markets Climb on Tariff Relief and ECB Policy Meeting Anticipation

European markets opened the week on a strong note,
with investors closely watching the upcoming ECB meeting on monetary policy.
The rally was also boosted by the U.S. decision to exempt certain tech goods from tariffs.

On Monday, the Stoxx Europe 600 index jumped by 1.85% to reach 495.8 points,
driven by substantial gains in the tech, energy, and banking sectors.
The UK’s FTSE 100 rose 1.8% to 8,105 points,
France’s CAC 40 climbed 1.95% to 7,244 points, and Germany’s DAX gained 2.1% to reach 20,801 points.

The positive sentiment was supported by a weekend announcement
from the U.S. government granting a temporary exemption from tariffs on smartphones,
computers, and other electronic components.

Investors are also awaiting Wednesday’s final reading of the Eurozone Consumer Price Index (CPI)
ahead of the ECB policy meeting, with rising expectations for a potential interest rate cut.

China’s Crude Oil Imports Rise on Iranian and Russian Shipments

China’s crude oil imports rose by around 5% in March year-over-year,
boosted by increased shipments from Iran and Russia.
According to data from China’s customs authority released on Monday,
crude oil imports totaled 51.41 million tonnes in March,
equivalent to 12.1 million barrels daily, the highest level since August 2023.

According to Reuters, that’s up from 11.55 million bpd in March and well
above the average of 10.38 million bpd for the first two months of 2025.

In Q1 2025, China — the world’s second-largest economy,
imported 135.25 million tonnes, or 10.97 million bpd, marking a slight 1.5% year-over-year decline.

Imports from Iran saw a sharp rise in March, making up 13% of China’s total purchases,
as independent refiners and traders rushed to stockpile in anticipation of potential new U.S. sanctions that could disrupt future supply.

Japan’s Nikkei Jumps on Temporary Smartphone Tariff Exemptions

Japan’s Nikkei index saw substantial gains in early Monday trading,
led by a sharp rise in iPhone-related stocks after the Trump administration
temporarily exempted smartphones and several electronics from tariffs on Chinese imports.

The Nikkei rose 2% to 34,267.97 points, while the broader Topix index gained 1.87% to 2,513.03 points.

Gains were fueled by Apple suppliers, with Murata shares up 4.5%,
TDK is up 6.1%, and Advantest — a chip testing equipment maker — is up 5.8%.

However, President Trump and Commerce Secretary Howard Lutnick warned that these
goods and semiconductors may still face separate tariffs within a month,
raising concerns about the sustainability of this positive market momentum.

European Markets Rise on Tariff Exemptions and Anticipation of ECB Meeting

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