Stock markets rise on signs of Trump tariff retreat; British Steel races to keep furnaces burning – business live

News Snapshot:

5m ago 03.08 EDT European shares bounce; dollar slides European shares have bounced at the open, with major indices rising by more than 2%. In London, the FTSE 100 index jumped by 130 points, or 1.6%, to 8,090. The German, French and Italian markets rose by more than 2% in early trading. The US dollar is on the backfoot again, retreating by 0.8% against a basket of major currencies. The pound has gained by 0.7% against the greenback while the euro is 0.55% ahead. Yields (or interest rates) on eurozone government bonds are rising, after falling on Friday, as the...