European luxury, drink stocks lifted by U.S. tariffs relief

The United States on Wednesday said it would impose 10% tariffs on European-made Airbus planes and 25% duties on French wine, Scotch and Irish whiskies, and cheese from across the continent.

The announcement came after the World Trade Organization gave Washington a green light to impose tariffs on $7.5 billion worth of EU goods annually in the long-running case, a move that threatens to ignite a tit-for-tat trade war. European plane maker Airbus jumped 4.1% after falling 2% during the previous session as fears over an intensifying trade war weighed.

The overall European benchmark STOXX 600 was up 0.2$ as selling pressure eased after worries over global growth caused a two-day rout that wiped off all gains made in September. Reporting by Julien Ponthus, Joice Alves and Danilo Masoni; editing by Josephine Mason and Alexander Smith

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