European Stocks Close Lower On Growth Worries Following Trump's Tariff Moves

RTTNews | il y a 74
European Stocks Close Lower On Growth Worries Following Trump's Tariff Moves

(RTTNews) - European stocks closed lower on Friday, continued to be weighed down by concerns about global economic growth following U.S. President Donald Trump's tariff announcement, and none too encouraging U.S. economic data, including a reading on core PCE price index.

The pan European Stoxx 600 fell 0.77%. Germany's DAX closed down 0.96% and France's CAC 40 settled lower by 0.93%, while the U.K.'s FTSE 100 edged down 0.08%. Switzerland's SMI drifted down 0.21%.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Russia, Spain and Sweden closed with sharp to moderate losses.

Portugal and Turkiye bucked the trend and closed higher.

In the UK market, Melrose Industries closed down 4.63%. IAG, Entain, Barclays, Rolls-Royce Holdings, Anglo American Plc., Easyjet, Antofagasta, BP, Rio Tinto, Scottish Mortgage and Natwest Group also declined sharply.

SSE climbed 3.85%. National Grid and United Utilities closed lower by about 2.8%. Severn Trent, Croda International, Segro, Land Securities, Haleon, Endeavour Mining, Persimmon, Coca-Cola, Unite Group, Marks & Spencer and Imperial Brands gained 1.8 to 2.5%.

In the German market, Commerzbank tumbled more than 5%. Siemens Energy ended down 4.8%, while Infineon and Puma closed lower by about 3.8% and 3.6%, respectively.

Deutsche Bank, MTU Aero Engines, Rheinmetall, Volkswagen, Heidelberg Materials, Siemens, Continental, Zalando, Porsche, BMW and Mercedes-Benz closed lower by 1.5 to 3%.

Symrise, E.ON, Vonovia, Deutsche Telekom, Merck, Fresenius Medical Care and Deutsche Boerse gained 1 to 2.5%.

In Paris, Stellantis, Schneider Electric, Renault, ArcelorMittal, STMicroElectronics and Accor closed down 3 to 4%.

TotalEnergies, Dassault Systemes, Societe Generale, Saint Gobain, BNP Paribas, Thales, Hermes International, Edenred, Airbus Group, Legrand, Capgemini, Kering, Safran and Credit Agricole lost 1 to 2.3%.

Pernod Ricard climbed about 3%. Sanofi, L'Oreal, Carrefour, Eurofins Scientific and Vivendi gained 1 to 1.3%.

On the economic front, data from the Office for National Statistics said the UK's gross domestic product edged up 0.1% sequentially in the fourth quarter after remaining flat in the third quarter, confirming the initial estimate.

On a yearly basis, economic growth was revised up to 1.5% from 1.4%.

The ONS upwardly revised GDP growth for the whole year of 2024 to 1.1% from 0.9%. This followed an unrevised increase of 0.4% in 2023.

Earlier this week, the Office for Budget Responsibility downgraded its growth projection for 2025 to 1% from 2%.

Meanwhile, overall retail sales logged a 1% monthly growth after rising 1.4% in January, the ONS said in a separate communiqué. Sales were forecast to fall 0.3%.

Another data showed that the UK visible trade gap widened to GBP 17.8 billion from GBP 17.4 billion in December. At the same time, the total trade deficit dropped to GBP 2.6 billion from GBP 2.8 billion in the previous month due to an increase in services surplus.

Data from statistical office INSEE showed the annual inflation rate in France remained unchanged at 0.8% in March, staying at its lowest level since February 2021, according to preliminary estimates.

Consumer prices in France rose 0.2% month-on-month in March 2025, following a period of stagnation.

The EU-harmonised annual inflation rate in France was unchanged at 0.9% in March 2025, the same as in February and below forecasts of 1.1%, preliminary estimates showed. The EU-harmonised CPI in France increased 0.2% month-over-month in March 2025, compared to 0.1% in February and forecasts of 0.3%, preliminary estimates showed.

Data showed that producer prices in France fell 0.8% in February, after a 0.6% rise in January.

A closely watch survey from GfK and the Nuremberg Institute for Market Decisions showed German consumer sentiment is set to rise only marginally heading into April despite a revival in expectations regarding the economy after the new elections.

The forward-looking consumer climate index rose to -24.5 in April from -24.6 in March, the survey said. On hopes of economic recovery, economic expectations improved noticeably in March. The index gained 5.7 points to 6.9 in March.

Meanwhile, the unemployment rate in Germany edged up to 6.3% in March, the highest level since September 2020, compared to 6.2% in February.

Eurozone economic confidence weakened unexpectedly in March to a three-month low reflecting lower confidence in services, retail trade and among consumers, survey data from the European Commission revealed Friday.

The economic sentiment index registered 95.2 in March, down from 96.3 in February. The score was forecast to rise to 97.0. Moreover, this was the lowest score since December.

read more
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | il y a 3h 41min
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | il y a 4h 42min
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | il y a 5h 7min
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | il y a 5h 35min
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | il y a 6h 7min
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | il y a 6h 32min
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | il y a 6h 37min