"European Stocks" European stocks rise in early trading, UK stocks hit a new high, steel stocks reach new heights

European stocks rose in early trading as the European Union proposed to reduce the tariff-free import quota for steel and increase steel tariffs by 100% to 50%, driving up steel stocks.

The pan-European STOXX 600 index rose by 2.77 points or 0.5% to 572.04 points, reaching a new intraday high of 572.15 points. The UK FTSE 100 index rose by 37 points or 0.4% to 9,520 points, hitting an intraday high of 9,521 points; the German DAX index rose by 82 points or 0.3% to 24,468 points; the French CAC 40 index rose by 61 points or 0.8% to 8,036 points; the Spanish IBEX 35 index rose by 121 points or 0.8% to 15,648 points, reaching a new 18-year high of 15,658 points intraday; the Italian FTSE MIB index rose by 385 points or 0.9% to 43,456 points.

Steel stocks performed well, with Thyssenkrupp and ArcelorMittal rising by 4.8% and 3.3%. Concerns about the impact of steel tariffs on production costs led to declines for German Mercedes-Benz and Volkswagen, which fell by 3.3% and 2.3%, respectively, while French Renault fell by 1.8%. BMW dropped by 8.3% as the company cut its profit margin guidance. Japan's SoftBank acquired Switzerland's ABB robotics division, causing ABB's stock price to rise by 1.3%. Dutch lithography equipment manufacturer ASML fell by 1.2%, while telecommunications equipment maker Nokia rose by 2.6%.

In U.S. stock futures, Dow futures rose by 68 points to 46,920 points; S&P 500 futures rose by 10 points to 6,772 points; and Nasdaq 100 futures rose by 49 points to 25,088 points.

In the Asia-Pacific stock markets, the Shanghai and Shenzhen stock markets and South Korean stocks were closed. Hong Kong's Hang Seng Index fell by 128 points or 0.5% to close at 26,829 points, with a turnover of HKD 173.8 billion. Taiwan and Japan's stocks each fell by 0.5%, while the Australian stock market fell by 0.1%, and the New Zealand stock market rose by 0.3%. India's Nifty 50 index rose by 7 points to 25,116 points. Singapore's Straits Times Index fell by 15 points or 0.3% to 4,457 points. Malaysia and Indonesia's stock markets each fell by 0.3%, while Thailand and the Philippines' stock markets rose by 0.2% and 0.3%, respectively, and Vietnam's Hanoi and Ho Chi Minh stock markets rose by 0.2% and 0.7%