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European Shares Drift Lower As Trump Threatens Fed Independence

RTTNews | 83 days ago

European Shares Drift Lower As Trump Threatens Fed Independence

(RTTNews) - European stocks traded lower on Tuesday as U.S. President Donald Trump's remarks on Federal Reserve Chair Jerome Powell reignited concerns about Fed independence and political interference.

Trump's message about non-tariff barriers also added to concerns over the trade war. The pan-European STOXX 600 dropped 0.45 percent to 504.12 as traders returned to their desks after a long holiday weekend for Good Friday and Easter.

The German DAX slipped 0.3 percent and France's CAC 40 shed half a percent while the U.K.'s FTSE 100 was up 0.2 percent.

Roche Holding AG fell about 1 percent after the Swiss pharmaceutical giant unveiled plans to invest USD 50 billion in pharmaceuticals and diagnostics in the United States over the next five years.

Danish drug maker Novo Nordisk slumped 8 percent after U.S. rival Eli Lilly released promising trial results for its experimental obesity pill, orforglipron, in a trial of diabetes patients.

Germany's ProSiebenSat.1 rallied 2.7 percent after extending Bert Habets' contract as Group CEO for another three years.

J Sainsbury shares jumped 2.6 percent in London. The merchandise retail company has confirmed the launch of a share buyback program worth up to 200 million pounds.

Sales and marketing services provider DCC tumbled nearly 3 percent following the announcement of its healthcare division's sale to HealthCo Investment Limited for £1,050 million.

Biotage AB shares soared 56 percent after KKR made a cash offer for the Swedish biotechnology firm, valuing it at around 11.6 billion Swedish crowns ($1.22 billion).

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Swiss Market Settles Slightly Up After Lackluster Session

Swiss Market Settles Slightly Up After Lackluster Session

The Switzerland market, which remained in the red save for a brief while at the fag end of the day's session, settled with a small gain on Monday. The mood in the market was very cautious as trade war fears escalated after U.S. President Donald Trump announced over the weekend that he would impose a 30% tariff on EU imports from August 1.

RTTNews | 13 minutes ago

European Stocks Close Mostly Lower

European Stocks Close Mostly Lower

Despite staging a recovery in late afternoon trades, European markets mostly ended on a weak note on Monday as worries about global trade escalated after U.S. President Donald Trump announced over the weekend that he would levy a 50% tariff on EU imports from August 1.

RTTNews | 33 minutes ago

Bay Street Likely To Open On Mixed Note

Bay Street Likely To Open On Mixed Note

Canadian shares may open on a mixed note Monday morning, tracking a weak lead from European markets and firm commodity prices. The mood is likely to be cautious as investors await Canadian inflation data for the month of June on Tuesday.

RTTNews | 5h 45min ago

Pound Falls As Traders Speculate BoE Rate Cut Decision

Pound Falls As Traders Speculate BoE Rate Cut Decision

The British pound weakened against other major currencies in the European session on Monday, as traders speculate that the Bank of England (BoE) is likely to reduce its interest rate in the next month's monetary policy decision.

RTTNews | 6h 10min ago

FTSE 100 Modestly Higher

FTSE 100 Modestly Higher

The U.K. market is up in positive territory on Monday, even as other major markets in Europe are languishing in negative territory amid rising concerns about trade war following U.S. President Donald Trump's threat that he would impose a 30% tariff on EU imports from August 1.

RTTNews | 6h 22min ago

Dollar Rebounds As Trade War Escalates

Dollar Rebounds As Trade War Escalates

A steep escalation in the trade related tensions between the U.S. and its trade partners boosted the dollar and the Dollar Index during the week ended July 11.

RTTNews | 6h 35min ago

Pound Falls Against Majors

Pound Falls Against Majors

The British pound weakened against other major currencies in the European session on Monday.

RTTNews | 6h 37min ago

CAC 40 Moderately Lower As Trade War Concerns Hurt Sentiment

CAC 40 Moderately Lower As Trade War Concerns Hurt Sentiment

French stocks are down in negative territory on Monday, weighed down by trade war concerns following U.S. President Donald Trump's threat that he would impose a 30% tariff on EU imports from August 1.

RTTNews | 6h 48min ago

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