European shares rise on the back of energy stocks; US tariffs are in sight

European shares rose slightly Monday, as energy stocks gained support. Markets also weighed the fears of a trade war after President Donald Trump warned that he would impose tariffs for all steel and aluminum imports to the United States.

As of 8:10 GMT, the pan-European STOXX 600 Index was up by 0.3%. On Friday, the benchmark posted its seventh consecutive weekly gain.

Trump said over the weekend that he will announce new tariffs of 25% on all imports of steel and aluminum on Monday and other reciprocal tariffs Tuesday or Wednesday.

After the new tariffs, Germany's benchmark 10-year bond yield for the Euro zone fell to 2.37%.

Shares of real estate sensitive to interest rate increases added by 0.9%

The Oil and Gas Index was the best performing sector with a 1.4% increase. Index was boosted by a jump of 6.4% in oil major BP, after activist investor Elliott Investment Management bought a stake.

Basic resources dropped 0.4% after Trump announced that he would impose tariffs against steel and aluminum imports.

GTT Group dropped 5.4% from the top of STOXX600 after Jean-Baptiste Choimet resigned as chief executive.

(source: Reuters)