The continent-wide STOXX 600 index rose 0.5% as of 0835 GMT. The benchmark closed 1% higher in the previous session after Trump extended the tariff deadline on the European Union to July 9 from June 1 to allow for talks between Washington and the 27-nation bloc.
“The performance that we’ve seen over the last three days does suggest that markets no longer believe that Trump is serious about tariffs,“ said Daniela Hathorn, senior market analyst at Capital.com.
The latest flip-flop on EU tariffs highlights the unpredictability of Trump's trade policies that have been shaking investor confidence in the U.S. economy and have put pressure on the U.S. dollar.
On the day, Europe's defence index jumped 1.4% after Trump said he would recommend additional sanctions on Moscow, amid escalating tensions between Russia and Ukraine.
Financial services rose 1.1%, while industrials added 0.95% to boost the main index.
In Germany, the DAX 40 hit a record high and was last up 0.4%. A recent survey indicated consumer sentiment is set to improve slightly heading into June, though cautious household spending may limit a robust recovery in Europe's largest economy.
French benchmark index CAC 40 nudged up 0.1% after preliminary data showed inflation fell to its lowest level since December 2020 in May.
Shares in FLSmidth rose 4.3% after Goldman Sachs raised the mining and cement technology supplier’s rating to “buy” from “neutral” on expectations of higher margins.
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