CAC 40 Down Nearly 2.5% As Tumble On Trump's Tariff Announcement

RTTNews | 69 дней спустя
CAC 40 Down Nearly 2.5% As Tumble On Trump's Tariff Announcement

(RTTNews) - French stocks are down sharply Thursday morning, mirroring losses in markets across Europe amid concerns about the impact of new tariffs announced by U.S. President Donald Trump.

The U.S. President announced a 10% baseline on all US imports and a 20% rate for goods from the European Union, with a steeper 25% tariff on imported cars set to take effect immediately.''

It is feared that the new levies could fuel inflation and disrupt global supply chains and lead to trade wars.

President of the European Commisson, Ursula von der Leyen posted on X that the universal tariffs announced by the U.S. are a major blow to businesses and consumers worldwide. "Europe is prepared to respond. We'll always protect our interests and values. We're also ready to engage," she wrote.

The benchmark CAC was down 189.52 points or 2.41% at 40 7,669.31 a few minutes ago.

Essilor is down nearly 6.5%. Bureau Veritas is declining 4.2% and BNP Paribas is down nearly 4%. Legrand, LVMH, Hermes International, Kering, ArcelorMittal, Saint Gobain, Dassault Systemes and Accor are down 3 to 3.7%.

Societe Generale, Safran, Publicis Groupe, Airbus, Credit Agricole, Schneider Electric, Michelin and Capgemini are lower by 2 to 3%.

STMicroElectronics, L'Oreal, TotalEnergies, Renault, AXA, Air Liquide, Teleperformance and Veolia Environment are also notably lower.

Eurofins Scientific is up nearly 4%. Orange, Danone, Carrefour and Engie are gaining 1.5 to 2.3%. Stellantis and Sanofi are up with modest gains.

Data from S&P Global said the HCOB France Composite PMI for March 2025 was revised slightly up to 48, from the flash estimate of 47, and above February's 13-month low of 45.1.

France's private sector saw its seventh consecutive month of contraction, although the downturn was just modest and the mildest since October 2024. Manufacturing activity improved with the PMI score coming in at 48.5, up from 45.8 in February, while services PMI improved to 47.9 from 45.3.

Eurozone producer price inflation accelerated notably in February on surging energy prices, Eurostat reported Thursday. Producer prices logged an annual growth of 3% in February, following January's 1.7% increase.

Eurozone March final HCOB Composite Output Index came in with a score of 50.9, up from February's 50.2 reading.

read more
Bay Street Seen Opening On Mixed Note

Bay Street Seen Opening On Mixed Note

It's likely to be a mixed start for Canadian shares on Wednesday with investors reacting to the crucial U.S. consumer price inflation data, and the developments on the trade front where U.S. and Chinese official reached a framework to implement the Geneva consensus following two days of discussions in London.
RTTNews | 42 минут назад
CAC 40 Drifts Lower In Cautious Trade

CAC 40 Drifts Lower In Cautious Trade

The French market is down in negative territory Wednesday afternoon, with stocks moving in a narrow range as investors await further details on U.S.-China trade talks, and the crucial inflation data from the U.S. later in the day.
RTTNews | 1ч 51мин назад
Euro Rises Amid Risk-on Mood

Euro Rises Amid Risk-on Mood

The euro strengthened against other major currencies in the European session on Wednesday amid increased risk-on mood, as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction. After two days of discussions in London, U.S. and Chinese officials have agreed on a limited framework to put their trade truce back on track.
RTTNews | 2ч 57мин назад
Euro Rises Against Majors

Euro Rises Against Majors

The euro strengthened against other major currencies in the European session on Wednesday.
RTTNews | 3ч 6мин назад
Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty End Modestly Higher; IT Stocks Lead Gains

Indian shares eked out modest gains on Wednesday as markets assessed the outcome of high-level U.S.-China talks and awaited key U.S. inflation readings for additional clues on the Federal Reserve's rate trajectory.
RTTNews | 3ч 8мин назад
Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Shares Gain As Musk Sets Robotaxi Service Launch Tentatively On June 22

Tesla Inc. shares were gaining around 2.4 percent in the pre-market activity on the Nasdaq following a 6 percent jump on Tuesday's regular trading, after the founder and CEO Elon Musk confirmed that the much awaited robotaxi service is tentatively set to launch in Austin, Texas, on June 22. In a post on his social media platform X, Musk said, "Tentatively, June 22. We are being super paranoid...
RTTNews | 3ч 10мин назад