European stocks were poised to rise on Monday as a deal between the US and European Union appeared to head off the risk of a damaging transatlantic trade war.
The deal struck by Donald Trump and Urusula von der Leyen, president of the European Commission, on Sunday at the former’s Scottish golf course will set a tariff rate of 15pc for most goods, down from a threatened 30pc.
Full details are yet to be confirmed and a written next still needs to be agreed by EU member states.
But as traders breathed a sigh of relief, Euro Stoxx 50 futures rose 1.3pc ahead of markets opening.
Speaking on Sunday, Mr Trump said: “This is probably the biggest deal ever reached in any capacity, trade or beyond trade.”
