European stocks rise after pulling the threat of charging Mexico

Economy and stock exchange

European shares rose on Monday as strong export data from China and an agreement between the United States and Mexico helped pick up the markets somewhat after concern over the impact of trade threats to US President Donald Trump.

The European car sector has been boosted by signs that Fiat Chrysler and Renault are considering ways to revive a collapsed merger plan and ensure Nissan's approval.

The Stoxx 600 index rose 0.3 percent by 0713 GMT and Britain's FTSE 100 rose 0.43 percent, but volumes were weak due to market closures in Germany, Switzerland, Austria and most northern European countries.

Car makers and suppliers, heavily affected by tariffs, rose 0.6 percent after news of Trump retreating from threatening to charge 5 percent of all goods imported from Mexico, in return for the latter taking steps to curb illegal immigration.

Chrysler's Fiat shares jumped 3% and Renault rose 1%.

– China