European Shares Decline On Trade War Fears
(RTTNews) - European stocks were moving lower on Thursday following U.S. President Donald Trump's ambiguous tariff threats against Europe and amid confusion over the timing of planned duties on Canada and Mexico.
The pan European STOXX 600 was down 0.6 percent at 556.18 after rallying 1 percent to a record high in the previous session.
The German DAX fell over 1 percent, France's CAC 40 shed 0.7 percent and the U.K.'s FTSE 100 was down 0.3 percent on fears of an escalating trade war.
Carmakers faced selling pressure, with Volkswagen and Stellantis falling around 3 percent each.
German wind turbine maker Nordex SE fell 1.6 percent despite posting full-year core earnings above analysts' estimates.
Nivea maker Beiersdorf AG rallied 3 percent as it announced a new share buyback program.
Italian energy major ENI dropped 2 percent as Q4 earnings fell short of market expectations.
French utility Engie SA surged more than 5 percent after upgrading its 2025 guidance. Insurer AXA declined 2.2 percent after it estimated losses from the California wildfires of around €100 million before tax and net of reinsurance.
Swiss Re added nearly 2 percent after reporting strong 2024 earnings and backing its guidance for the year ahead.
Rolls Royce shares soared 16 percent. The British aerospace giant upgraded forecasts after posting stronger-than-expected full-year earnings.
Advertising group WPP slumped 17 percent after announcing that sales would remain flat or shrink this year.
Developer Taylor Wimpey fell 1.7 percent as its annual profit missed market view.
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