LONDON — European stocks moved higher on Friday after the U.S. Supreme Court ruled against a sizeable chunk of U.S. President Donald Trump's global tariffs.
The pan-European Stoxx 600 ended the session 0.8% higher following the Supreme Court's decision by 6-3 to strike down the tariffs policy. All major bourses and most sectors in the region advanced into positive territory in afternoon dealmaking.
Friday saw more European companies reporting earnings, including Air Liquide, Danone, Sika, Anglo American, and Kingspan Group.
Shares of Italian luxury player Moncler soared 15% on Friday, pushing it to the top of the Stoxx 600, after the company posted its full-year earnings after the closing bell on Thursday. Group sales hit 3.13 billion ($3.7 billion) euros in 2025, up 3% at constant exchange rates, beating analysts' estimates.
Mining giant Anglo American closed about 1% higher after reporting adjusted core earnings of $6.4 billion for 2025, up from $6.3 billion the prior year, driven by strong performance in copper and premium iron ore, as well as significant cost savings amounting to $1.8 billion for the year. Its net debt decreased to $8.6 billion.
However, the group reported a $3.7 billion net loss, largely due to a $2.3 billion pre-tax impairment on its De Beers diamond unit, amid challenging market conditions. Anglo American's CEO Duncan Wanblad said the company is progressing with the separation of De Beers.
Elsewhere, the U.K.'s retail sales figures were estimated to have risen 1.8% in January 2026, up from a 0.4% increase in December 2025, pointing to an uptick in the economy, according to data from the Office for National Statistics. Additionally, sales volumes rose by 4.5% over the year.
Britain's public finances, released Friday, showed that the public sector recorded a £30.4 billion ($40.8 billion) surplus in January 2026, which is double the level recorded a year earlier. Public borrowing stood at £112.1 billion since the start of the fiscal year in April 2025, 11.5% less than the same period a year ago.
The British pound was last seen trading 0.2% higher against the dollar at $1.349. British government bond yields, known as gilts, were mixed. The 10-year Gilt was down 2 basis points to 4.35%, while the 2-year Gilt rose less than 1 basis point to around 3.58%.
Across the Atlantic, data showed U.S. GDP for the fourth quarter came in well below expectations at just 1.4%.
Geopolitical tensions remain in focus with President Trump reportedly now considering launching limited strikes on Iran in response to Tehran's resistance to a nuclear agreement.
When asked if he is considering a limited strike on Iran, Trump responded, "I guess I can say I am considering that," Reuters reported. The president's comments come amid a major U.S. military buildup in the Middle East region in recent days.
Earlier, Trump said Thursday he would decide whether to take military action against Iran in the next 10 days.