FAMAGUSTA GAZETTE – Global markets advanced Monday following a new trade agreement between the United States and the European Union that boosted investor optimism.
The deal imposes a 15 percent import tariff on most EU goods, including vehicles, pharmaceuticals and semiconductors, aimed at rebalancing transatlantic trade.
U.S. stock futures posted moderate gains, with S&P 500 futures up 0.4 percent and Nasdaq futures rising 0.5 percent.
European futures climbed nearly 1 percent. The euro strengthened broadly against the U.S. dollar, the British pound and the Japanese yen.
In Asia, Tokyo’s Nikkei 225 index declined after hitting a one-year high last week.
MSCI’s Asia-Pacific index excluding Japan rose 0.27 percent, approaching a four-year peak.
President Donald Trump and European Commission President Ursula von der Leyen announced the agreement at a joint news conference in Scotland, calling it a landmark deal.