FX.co ★ European Markets Head for Higher Open

European equity markets were set for a robust opening on Thursday, buoyed by reduced concerns over tariffs which bolstered investor confidence. The US Court of International Trade has ruled that President Donald Trump overstepped his bounds by implementing reciprocal tariffs, ordering these measures to be annulled and indefinitely blocked. Although the Trump administration is likely to appeal, this ruling significantly undermines the president’s assertive tariff approach. Additionally enhancing the global risk appetite, the US chipmaker Nvidia posted first-quarter results that surpassed expectations, driven by continuous demand in the artificial intelligence sector, notwithstanding ongoing challenges due to export restrictions to China. On the data front, investors are anticipated to focus on Spanish retail sales and Italian business and consumer confidence figures. In Europe, no major corporate earnings announcements are on the schedule. In premarket trading, futures for both the Euro Stoxx 50 and Stoxx 600 had risen by over 1%.