European Stocks Close On Weak Note Ahead Of Trump's Tariff Announcement

RTTNews | vor 70 Tagen

(RTTNews) - European stocks closed mostly weak on Wednesday as investors chose to refrain from making significant moves ahead of U.S. President Donald Trump's tariff announcement.

According to reports, the U.S. President is looking to impose a sweeping 20% tariff on most imports, and a separate 25% global tariff on auto imports.

Trump is scheduled to announce the new tariffs in a Rose Garden event shortly after the close of trading, with White House press secretary Karoline Leavitt indicating the new levies will be "effective immediately."

There is still some uncertainty about the quantum of levy and any possible exemptions from tariffs to some countries.

The pan European Stoxx 600 fell 0.5%. The U.K.'s FTSE 100 close down 0.3%, Germany's DAX ended 0.66% down, and France's CAC 40 lost 0.22%. Switzerland's SMI closed lower by 0.77%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Netherlands, Norway, Russia, Sweden and Turkiye closed weak.

Greece, Ireland, Poland, Portugal and Spain ended higher.

In the UK market, Rolls-Royce Holdings closed lower by 3%. Vodafone Group, GSK, Persimmon, British American Tobacco, St. James's Place, Fresnillo, Taylor Wimpey, Melrose Industries, Beazley, Imperial Brands, Schroders, AstraZeneca and Croda International lost 1.2 to 2.5%.

Bunzl climbed 3.2% and WPP rallied 3%. Marks & Spencer, JD Sports Fashion, Associated British Foods, Whitbread, IAG, Next, Diageo, Natwest Group, Intercontinental Hotels, Barclays and Admiral Group gained 1 to 2.5%.

In the German market, Rheinmetall and Bayer lost 4.2% and 4%, respectively. Vonovia, Deutsche Telekom, Deutsche Post, MTU Aero Engines, Infineon Technologies, BASF and Adidas closed down 1 to 2%.

Zalando gained 3.7% and Heidelberg Materials advanced 2.3%. Beiersdorf and Siemens Energy closed higher by 1.6% and 1.2%, respectively.

In the French market, Airbus ended down 3.17%. Teleperformance closed lower by 2.74%, while Societe Generale, Sanofi and Thales lost 1.5 to 1.7%.

ArcelorMittal, STMicroElectronics, BNP Paribas, Edenred, Orange, Stellantis and Michelin closed notably lower.

Pernod Ricard, Engie and Accor climbed 1.25 to 1.6%. Publicis Groupe, AXA, Dassault Systemes, L'Oreal, Veolia Environment, Legrand, Renault, Bureau Veritas, Vinci and Saint Gobain posted moderate gains.

New Zealand Card Retail Sales Data Due On Thursday

New Zealand will on Thursday release May figures for electronic card retail sales, highlighting a light day for Asia-Pacific economic activity. In April, sales were flat on month and down 0.3 percent on year.

RTTNews | vor 56 Minuten

U.S. Dollar Declines After Softer-than-expected Inflation Data

The U.S. dollar dropped against its major counterparts in the New York session on Wednesday, as the consumer price index came in softer than expected in May.

RTTNews | vor 3Std 8 Minuten

Swiss Market Fails To Hold Early Gains, Settle Modestly Lower

The Switzerland market ended modestly lower on Wednesday despite spending much of the day's trading session in positive territory. Although the market gained some ground in positive territory, reacting to news about U.S. and Chinese officials reaching a framework to implement the Geneva consensus following two days of discussions in London, the mood turned cautious later on in the session.

RTTNews | vor 4Std 50 Minuten

European Stocks Pare Early Gains, Close Mostly Lower

Despite U.S. and Chinese officials announcing an agreement in principle on a framework to ease trade disputes, European stocks failed to hold early gains and closed mostly lower on Wednesday, with the mood turning cautious as the plan is subject to approval by the presidents of the two nations.

RTTNews | vor 5Std 10 Minuten

TSX Hits Fresh Record High; Technology, Consumer Discretionary Stocks Shine

The Canadian market is modestly higher a little past noon on Wednesday, after hitting a fresh record high earlier in the session, amid easing Sino-US trade tensions, somewhat tame U.S. consumer price inflation data, and higher crude oil prices.

RTTNews | vor 6Std 18 Minuten

ECB Indicator Shows Eurozone Wage Growth To Slow Sharply To 3.1% This Year

A measure, based on the collective bargaining agreements in the euro area, suggested that negotiated wage growth is set to ease significantly this year, the European Central Bank said on Wednesday, which adds to expectations of inflation staying near the 2 percent target.

RTTNews | vor 8Std 6 Minuten

U.S. Consumer Prices Inch Up 0.1% In May, Slightly Less Than Expected

A closely watched report released by the Labor Department on Wednesday showed a slight increase by consumer prices in the U.S. in the month of May. The Labor Department said its consumer price index inched up by 0.1 percent in May after rising by 0.2 percent in April. Economists had expected another 0.2 percent increase.

RTTNews | vor 9Std 17 Minuten

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.

RTTNews | vor 10Std 4 Minuten

EURUSD	1.14993	GBPUSD	1.35603	AUDUSD	0.65061
USDJPY	144.273	USDCAD	1.36663	USDCHF	0.81914

Advertisement

European Stocks Close On Weak Note Ahead Of Trump's Tariff Announcement