European Stocks Close Sharply Lower On Escalating Trade Tensions

RTTNews | 61 hari yang lalu

(RTTNews) - European stocks ended sharply lower on Wednesday, turning weak once again after having snapped a four-session losing streak on Tuesday. The mood turned bearish U.S. President Donald Trump pushed ahead with higher duties on roughly 60 trading partners that he dubbed the "worst offenders."

The latest set of U.S. tariffs, including a massive 104% levy on Chinese imports, and a 20% levy on European Union imports took effect today. China's finance ministry said it will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced.

Trump also proposed the imposition of a "major" tariff on drug imports in a bid to stimulate domestic drug production and tripled the previously announced tariff rates on low-value packages exported to the U.S. from mainland China and Hong Kong.

The European Commission is reportedly contemplating imposing tariffs of up to 25% on over 22 billion euros worth of American agricultural and industrial exports.

The pan European Stoxx 600 dropped 4.31%. The U.K.'s FTSE 100 closed down 3.54%, Germany's DAX and France's CAC 40 lost 4.06% and 4.04%, respectively, while Switzerland's SMI settled lower by 4.15%.

Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye all ended with sharp losses.

In the UK market, AstraZeneca Pharma, BP, GlaxoSmithKline, Melrose Industries, Vistry Group, Smith & Nephew, Persimmon, British Land Company, Anglo American Plc, Barclays, Schroders, M&G, Shell, Segro and Intertek lost 4 to 7%.

Hikma Pharmaceuticals, Natwest Group, Haleon, Frasers Group, Prudential and Reckitt Benckiser were among the several other major losers.

JD Sports Fashion soared 11%. B&M European Value Retail, Fresnillo, Endeavour Mining, 3i Group and Airtel Africa gained 1.3 to 2.7%.

In the German market, Fresenius, MTU Aero Engines, Bayer, Deutsche Bank, Fresenius Medical Care, Merck, Vonovia, SAP, Qiagen, Henkel, Infineon, Sartorius, Deutsche Post, Sartorius, Brenntag, BMW, Mercedes-Benz, Siemens Healthineers and Allianz lost 3 to 4.5%.

In the French market, Sanofi lost more than 6%. Unibail Rodamco, Safran, Airbus Group, Saint-Gobain, Stellantis, Kering, TotalEnergies, LVMH, BNP Paribas, Michelin, ArcelorMittal, Essilor and Teleperformance closed down 3 to 5.3%.

Publicis Groupe, Capgemini, Dassault Systemes, Vivendi, L'Oreal, Societe Generale, Thales, Carrefour and Credit Agricole also ended notably lower.

Sensex, Nifty Lack Direction, Ongoing Trade Talks In Focus

Indian shares struggled for direction on Tuesday as investors waited for the outcome of U.S.-China talks that could pave the way for easing trade tensions.

RTTNews | 15 minit yang lalu

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and industrial production from Italy are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.6 percent in three months to April from 4.5 percent in the preceding period.

RTTNews | 21 minit yang lalu

Australian Market Doubles Early Gains In Mid-market

The Australian stock market is doubling its early gains in mid-market trading on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,600 level, with gains in iron ore miners, financial, technology and energy stocks partially offset by weakness in gold miners.

RTTNews | 1j 8min yang lalu

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.

RTTNews | 1j 50min yang lalu

Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.

RTTNews | 2j 17min yang lalu

Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.

RTTNews | 2j 48min yang lalu

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Tuesday, extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight, with the Nikkei 225 moving up to near the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks were the only weak spot.

RTTNews | 3j 10min yang lalu

Lower Open Anticipated For Indonesia Stock Market

Ahead of the long holiday weekend for Eid-al-Adha, the Indonesia stock market had moved higher in back-to-back sessions, gathering almost 70 points or 1 percent along the way. The Jakarta Composite Index now rests just above the 7,110-point plateau although it's likely to open under pressure on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference. The JCI finished modestly higher on Thursday following gains from the financials and mixed performances from the resource and cement companies. For the day, the index added 44.39 points or 0.63 percent to finish at 7,113.42 after trading between 7,083.89 and 7,136.64. Among the actives, Bank CIMB Niaga sank 0.87 percent, while Bank Mandiri climbed 1.00 percent, Bank Negara Indonesia spiked 2.79 percent, Bank Central Asia shed 0.56 percent, Bank Rakyat Indonesia collected 0.49 percent, Indosat Ooredoo Hutchison added 0.48 percent, Indocement advanced 0.98 percent, Semen Indonesia tumbled 1.79 percent, Indofood Sukses Makmur dropped 0.91 percent, United Tractors perked 0.12 percent, Energi Mega Persada plunged 4.24 percent, Astra Agro Lestari retreated 1.26 percent, Aneka Tambang tanked 2.82 percent, Vale Indonesia plummeted 4.13 percent, Timah rallied 2.07 percent, Bumi Resources soared 2.50 percent and Astra International and Bank Danamon Indonesia were unchanged.

RTTNews | 3j 18min yang lalu

EURUSD	1.13956	GBPUSD	1.35359	AUDUSD	0.65221
USDJPY	144.886	USDCAD	1.37072	USDCHF	0.82265

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European Stocks Close Sharply Lower On Escalating Trade Tensions