STOXX 600 Shatters Records Amid Supreme Court Ruling, Luxury Boom

Europe's STOXX 600 surged to a record high following the U.S. Supreme Court's decision against Trump's global tariffs. Boosting market confidence, the luxury sector notably excelled. Key market players anticipate further tariff strategies from the U.S. as business activities in the eurozone accelerate.

The European stock market celebrated as the STOXX 600 closed at a record on Friday, buoyed by a U.S. Supreme Court ruling against President Trump's international tariffs. Investors cheered the 0.8% rise, pushing the index to 630.56 points, as most regional benchmarks also closed in positive territory.

The Supreme Court's decision overturned Trump's tariffs, initially established under a federal law for national emergencies, which had impacted global imports. Market strategist Chris Beauchamp noted both positive and negative elements, foreseeing new tariff strategies from Trump that could introduce further market uncertainties.

Amidst these developments, sectors such as luxury and personal goods saw remarkable gains, with Moncler reporting a substantial revenue increase. Conversely, energy stocks dipped slightly. The eurozone's improved business activity provided additional optimism as ECB President Christine Lagarde reassured her commitment to completing her term amidst speculation.

(With inputs from agencies.)