(Updates prices throughout, adding Wall Street futures in

paragraph 5, EU negotiations in 11, US Treasuries in 18)

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US copper futures hit record high

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European stocks edge upwards

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Equity markets show muted reaction to tariff updates

By Elizabeth Howcroft

PARIS, July 9 (Reuters) - European stocks rose on

Wednesday as traders seemed untroubled by U.S. President Donald

Trump's announcement that he would impose a 50% tariff on

imported copper and soon introduce levies of up to 200% for

pharmaceuticals.

Trump's comments on Tuesday sent the price of copper soaring

to record highs and caused Wall Street to close lower.

But equity markets soon shrugged off the news. Asian stocks

were mixed overnight and at 0956 GMT the MSCI World Equity Index

was up 0.1% on the day.

London's FTSE 100 was up 0.2% and the pan-European

STOXX 600 was up 0.8%.

Wall Street futures pointed to the gains continuing,

with S&P 500 and Nasdaq futures both up by 0.1% .

The U.S. dollar index was little changed at 97.567

and the euro was down 0.1% at $1.1714.

The dollar touched its highest level in more than two weeks

against the yen, as Japan, which is dependent on exports, stands

out among major U.S. trading partners as being the farthest from

reaching a trade deal with Washington.

U.S. copper futures jumped by more than 10% to a record high

after Trump threatened new duties on the metal that is

critical to electric vehicles, military hardware, the power grid

and many consumer goods.

Traders are awaiting further developments in Trump's trade

war in the coming days, after he told 14 nations on Monday that

they will face sharply higher tariffs from a new deadline of

August 1.

Trump said he would "probably" tell the European Union

within two days what rate it can expect for its exports to the

United States.

The EU is struggling to get immediate tariff relief from

the U.S. and a commitment not to introduce new measures, the

head of the European Parliament's trade committee, which has

been negotiating on behalf of the bloc,

said on Wednesday

.

Investors are concerned that higher tariffs will increase

inflation and slow economic growth, and so will pay attention to

the latest meeting minutes from the U.S. Federal Reserve, due to

be released later on Wednesday, for any clues as to how

volatility will affect the outlook for rates.

"We're really in the dark when it comes to tariffs, because

it's very difficult to know the impact on end-inflation, the

impact on margins for U.S. corporates, or corporates in

general," said Amelie Derambure, senior multi-asset portfolio

manager at Amundi.

"The uncertainty is immense."

Derambure said that while equity markets are expecting

tariffs to be manageable and are supported by underlying

expectations of growth, the impact of tariffs could be seen in

the rising yields in fixed income.

U.S. Treasury yields rose on Tuesday, and an auction of

three-year Treasury bills saw weak demand.

The Treasury will sell $39 billion in 10-year notes on

Wednesday and $22 billion in 30-year bonds on Thursday.

The 10-year U.S. Treasury yield edged back down early on

Wednesday, at 4.4072%, compared to Tuesday's peak of 4.435%,

which was its highest in more than three weeks.

European government bonds were little changed, with the

benchmark 10-year German yield at 2.637%.

Gold was in its third day of declines, down 0.3% on the day

at $3,290 per ounce.

Oil prices rose slightly, with Brent crude futures

up by 0.4% at $70.42.