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DAX Falls As Automakers Decline On Tariff Concerns
(RTTNews) - German stocks fell notably on Tuesday, with automakers suffering heavy losses after U.S. President-elect Donald Trump vowed additional tariffs on China as well as U.S. neighbors Canada and Mexico, raising fears of a renewed trade war.
Automakers BMW, Mercedes Benz and Volkswagen were down 2-3 percent while the benchmark DAX was down 125 points, or 0.6 percent, at 19,280 after rising 0.4 percent in the previous session.
Eurozone government bond yields rose slightly ahead of upcoming inflation data that may influence the European Central Bank's policy direction.
Heightened geopolitical tensions and rising political tensions over the French budget also added to the economic uncertainties.
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Canadian Dollar Falls Against Most Majors
The Canadian dollar dropped against its most major counterparts in the New York session on Friday.
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Canadian Market Modestly Higher; Technology Stocks Among Notable Gainers
The Canadian market is up in positive territory Friday afternoon with investors largely reacting to quarterly earnings announcements, and the nation's jobs data, in addition to weighing the impact of tariffs on global economic growth.
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Swiss Market Ends Marginally Up
The Switzerland market ended marginally up on Friday despite exhibiting weakness for much of the time past noon. Investors continued to react to earnings and assess the economic impact of reciprocal tariffs, and stayed largely cautious with their moves.
A report showing a drop in Swiss consumer confidence in the month of July hurt sentiment.
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Major European Markets Close On Mixed Note
Major European markets turned in a mixed performance on Friday with investors largely staying cautious, assessing the impact of tariffs on global economic growth, and continuing to digest corporate earnings announcements and other data.
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Positive Start Seen For Canadian Stocks
Canadian stocks may edge up a bit in early trades Friday morning with some encouraging earnings announcements and firm commodity prices aiding sentiment.
Investors will also be reacting to the data showing a 41,000 jobs drop in Canadian employment in the month of July. Data from Statistics Canada also showed that the unemployment rate in Canada came in unchanged at 6.9%.
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UK Market Roughly Flat; Mining Stocks Move Higher
Amid a lack of economic and earnings data, U.K. stocks are moving in a tight range in somewhat lackluster trade on Friday. Investors are assessing the potential impact of the Trump administration's reciprocal tariffs on global economic growth. Optimism about a rate cut by the Fed next month is aiding sentiment a bit.
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CAC 40 Climbs Higher For 3rd Straight Day
French stocks are modestly higher on Friday, extending gains to a third straight session, with mostly encouraging corporate earnings announcements aiding sentiment.
Concerns about the potential impact of Trump's reciprocal tariffs limit market's upside a bit.
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Sensex Plunges 765 Points On Tariff Worries; Nifty Ends Below 24,400
Indian shares fell sharply on Friday amid concerns that steep 50 percent U.S. tariffs on Indian goods may hut the country's manufacture push and slow economic growth.
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