European equities resume after deferring customs duties on Chinese products

European equities recovered from their initial losses to close the session higher on Tuesday and growing sectors dominated the market after Washington announced the postponement of the imposition of new tariffs on some Chinese products, which boosted the general feeling exhausted.

The Office of the US Trade Representative announced Tuesday that the administration would delay tariffs on Chinese products, including laptops and mobile phones, by 10 percent. A separate list included some imports that would be entirely excluded from customs duties.

This has encouraged investors to return to riskier badets after a series of negative drivers that put pressure on the markets in recent sessions.

Commodity, automotive and technology stocks were among Europe's leading winners, allowing the STOXX 600 index to rise 0.5% after yielding about 0.8%.

The German export-oriented DAX rose 0.6% in US news after recovering after the data revealed a sharp decline in German investor sentiment.

Investors were expecting economic growth data in the second quarter to see if Europe's biggest economy was in recession.

The easing of trade tensions has also driven up oil prices, allowing energy stocks to be among the top winners in the Stoxx 600 index.

Despite the political turmoil, Italian equities closed up more than 1% thanks to banks' gains.

In terms of corporate earnings, the German consumer goods company Henkel reversed the market trend and reduced its forecast by 7% after reducing its forecast of sales and profits for the full year. .