European Shares Slide As Trade War Begins

RTTNews | 127 дней спустя
European Shares Slide As Trade War Begins

(RTTNews) - European stocks declined on Tuesday, after having hit a record high in the previous session led by defense-related stocks.

Trade tensions weighed on markets after U.S. President Donald Trump's long-threatened tariffs against Canada, Mexico and China went into effect today.

Canada announced 25 percent tariffs on $107 billion worth of U.S. goods, with $20.7 billion in immediate effect. Mexican President Claudia Sheinbaum said her country is preparing countermeasures.

China has announced 15 percent tariffs on U.S. chicken, wheat, corn and cotton, plus 10 percent cent tariffs on soybeans, pork, beef and dairy beginning March 10.

The pan European STOXX 600 dropped 0.9 percent to 558.28 after rallying 1.1 percent in the previous session.

The German DAX lost 1.5 percent, France's CAC 40 fell over 1 percent and the U.K.'s FTSE 100 was down 0.6 percent.

Automakers led losses, with Volkswagen, Renault, BMW and Stellantis losing 2-5 percent.

Oil & gas giant BP Plc slumped 4 percent and Shell gave up 3.2 percent, tracking the downward trend in crude oil prices.

Ashtead Group shares tumbled 3.5 percent. The British equipment rental firm missed third-quarter pre-tax profit and revenue expectations but maintained its full-year outlook.

Germany's Continental AG plummeted 9 percent after saying it expects limited improvement to profitability this year.

Bilfinger, an industrial services provider, rallied 3.6 percent after lifting dividend and confirming its mid-term view.

Low-cost carrier Wizz Air Holdings slumped 4.6 percent after unveiling passenger tariff figures for January.

Fresnillo, a precious metals mining company, climbed 2.2 percent after announcing a solid financial performance for the full year ended December 31, 2024.

Defense and technology group Thales soared 10 percent in Paris after reporting robust 2024 earnings.

read more
NZ Dollar Falls After RBNZ Rate Decision

NZ Dollar Falls After RBNZ Rate Decision

The New Zealand dollar retreated from recent highs against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand's (RBNZ) widely anticipated decision to maintain rates constant.
RTTNews | 18 минут назад
China Inflation Turns Positive; PPI Continues To Fall

China Inflation Turns Positive; PPI Continues To Fall

China's consumer prices rose for the first time in five months in June but it remained weak and producer prices marked its 33rd straight month of decline, adding pressure on policymakers to introduce more measures to support economy. The consumer price index logged an unexpected annual growth of 0.1 percent in June, offsetting a fall of 0.1 percent in May, the National Bureau of Statistics said
RTTNews | 1ч 34мин назад
NZ Dollar Retreats Against Majors

NZ Dollar Retreats Against Majors

The New Zealand dollar retreated from recent highs against other major currencies in the Asian session on Wednesday.
RTTNews | 2ч 17мин назад
New Zealand Holds Key Rate As Expected

New Zealand Holds Key Rate As Expected

The Reserve Bank of New Zealand left its benchmark interest rate unchanged on Wednesday citing elevated level of uncertainty and near-term risks to inflation. The Monetary Policy Committee, governed by Christian Hawkesby, decided to hold the Official Cash Rate at 3.25 percent. The bank has paused the easing cycle for the first time since it started cutting rates in August 2024.
RTTNews | 3ч 54мин назад
Sensex, Nifty Tad Lower Dragged By IT Stocks

Sensex, Nifty Tad Lower Dragged By IT Stocks

Indian shares opened a tad lower on Wednesday after U.S. President Donald Trump offered no exceptions to his Aug. 1 tariff start date and announced a 50 percent tariff on copper imports, expanding trade measures already in place for steel and aluminum.
RTTNews | 5ч 10мин назад