Closing summary
Global stock markets are rallying, with nearly all the main European indices rising by more than 2%, led by Germany’s Dax with a 2.7% jump, while the UK’s FTSE 100 index is 1.8% ahead at 8,107, a gain of 142 points. Asian shares also rose, posting more modest gains.
On Wall Street, the Nasdaq is leading gains with a 2.37% jump after the opening bell.
The exemption for smartphones, laptops and other electronic devices from US tariffs on Chinese imports, announced on Friday, has brought some much-needed cheer to markets. However, Donald Trump and US officials have said that the exclusion could be short-lived.
In the UK, government officials and trade unions are scrambling to keep British Steel’s two furnaces at Scunthorpe burning.
You can follow the latest on British Steel on our politics live blog here:
Our main stories today:
Wall Street has opened higher.
The S&P 500 gained 95 points, or 1.78%, to 5,458 at the open, while the Dow Jones rose by 511 points, or 1.27%, to 40,723 and the Nasdaq added 399 points, or 2.39%, to 17,123.
