Doha: European stocks closed higher Monday, recovering from the previous session's losses, after US President Donald Trump postponed the imposing of 50 percent tariffs on the European Union (EU). The pan-European Stoxx 600 index rose 1 percent at the close.

According to Qatar News Agency, the index had previously closed down 0.9 percent last Friday after Trump unexpectedly announced plans to impose stiff tariffs on EU goods. However, on Sunday, he extended the deadline for imposing these tariffs to July 9 from June 1. This decision followed a statement from European Commission (EC) President Ursula von der Leyen, who indicated that the EU needed more time to reach an agreement.

Investors have started pulling back their investments in US assets due to growing concerns about the slowing US economy and financial issues, which recently led Moody's to downgrade the US credit rating on May 16.