European Shares Tumble On Tariff Worries; Auto And Tech Stocks Worst Hit

RTTNews | Před 10 h 42 min
European Shares Tumble On Tariff Worries; Auto And Tech Stocks Worst Hit

(RTTNews) - European stocks fell sharply on Monday after U.S. President Donald Trump imposed tariffs on Canada, Mexico and China, and promised to make similar moves against the European Union.

It is feared that a potential trade war could weigh on global economic growth and hit the earnings of major companies.

In economic releases, the final release of the eurozone manufacturing PMI for January and flash CPI data for the region are awaited later in the day.

The pan European STOXX 600 was down 1.2 percent at 533.01 after ending 0.1 percent higher on Friday.

The German DAX fell 1.6 percent and France's CAC 40 shed 1.4 percent. The U.K.'s FTSE 100 was down 1.3 percent despite Trump indicating that the U.K. might be able to dodge tariffs.

Tariff worries and signs of intense Chinese competition weighed on automakers, with BMW, Mercedes Benz, Volkswagen and Stellantis plummeting 4-6 percent.

Technology stocks also suffered broad-based losses, with Infineon Technologies tumbling 3.2 percent and ASML Holding falling 2.5 percent.

Julius Baer plunged more than 10 percent as the Swiss bank announced plans to cut its workforce by about 5 percent as part of savings measures under new chief executive Stefan Bollinger.

Sandoz slumped 4.6 percent. The generic pharmaceutical company has appointed Peter Stenico as the new President Region International and member of the Sandoz Executive Committee.

read more
Stellantis Changes Management, Structure; Searching For CEO; Stock Dips

Stellantis Changes Management, Structure; Searching For CEO; Stock Dips

Stellantis N.V. Monday announced a further shake-up in its management and structure following the ouster of Chief Executive Officer Carlos Tavares in December amid different views about the auto major. The company said the process to appoint a new permanent Chief Executive Officer is well underway, expected within the first half of 2025.
RTTNews | Před 5 h 21 min
Trade War Escalation Lifts The Dollar

Trade War Escalation Lifts The Dollar

Trump's tariff threats rattled currency markets during the week ended January 31, lifting the Dollar against most major currencies.
RTTNews | Před 5 h 57 min
UK Manufacturing Downturn Continues In January

UK Manufacturing Downturn Continues In January

The UK manufacturing activity continued to contract in January, albeit at a slower pace, due to weak demand, low confidence and rising costs, final survey results from S&P Global showed on Monday. The final manufacturing Purchasing Managers' Index rose to 48.3 in January from an 11-month low of 47.0 in December. The reading was marginally above the flash score of 48.2.
RTTNews | Před 6 h 41 min
Bay Street Likely To Open With Negative Gap

Bay Street Likely To Open With Negative Gap

Canadian shares look headed for a gap down start Monday morning with the imposition of 25% tariffs by the Trump Administration on Canadian imports raising fears of a long trade war.
RTTNews | Před 7 h 32 min
Eurozone Inflation Rises Modestly In January

Eurozone Inflation Rises Modestly In January

Eurozone inflation edged up in January due to the acceleration in energy price growth but the intended easing path of the European Central Bank is unlikely to be influenced by the modest increase. Inflation in the euro area increased to 2.5 percent in January, while it was expected to remain at December's rate of 2.4 percent.
RTTNews | Před 7 h 49 min
CAC 40 Falls Nearly 2% On Widespread Selling

CAC 40 Falls Nearly 2% On Widespread Selling

French stocks opened with a negative gap Monday morning and shed further ground before recovering a bit with a few counters attracting modest buying activity. The levy by the Trump administration has raised fears of a potential trade war and concerns about global economic outlook.
RTTNews | Před 9 h 10 min