European Shares Little Changed As Investors Assess Trump's Tariff Plans
(RTTNews) - European shares were little changed on Tuesday as investors weighed U.S. President Donald Trump's tariff plans and global growth risks.
Trump on Monday announced plans to impose significantly higher tariffs on imports from 14 countries starting August 1. Originally set for July 9, the deadline has now been extended to August 1.
The EU is reportedly seeking exemptions from the baseline 10 percent U.S. tariff currently in place.
In economic releases, Germany's exports declined for the second straight month in May due to the sharp fall in demand from the U.S. amid tariff threats, data from Destatis revealed earlier today.
Exports decreased by more-than-expected 1.4 percent on a monthly basis in May, following April's 1.6 percent fall.
Imports slid 3.8 percent from last month, in contrast to the 2.2 percent increase in April.
The pan-European STOXX 600 slid 0.1 percent to 542.89 after rising 0.4 percent on Monday.
The German DAX was marginally higher, France's CAC 40 dipped 0.2 percent and the U.K.'s FTSE 100 was up marginally.
In corporate news, Hansa Biopharma AB rose 1.4 percent after appointing Richard Philipson as its new chief medical officer.
Basilea gained nearly 2 percent after receiving USD 39 million funding under BARDA agreement to advance antifungals Fosmanogepix and BAL2062.
Vallourec SA rose over 1 percent on securing two contracts in Iraq.
Victrex plunged almost 8 percent after announcing a new CEO and reporting lower Q3 revenue.
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