European Shares Slide Before Trump's Tariff Announcement

RTTNews | 1 day ago
Stocktwits
European Shares Slide Before Trump's Tariff Announcement

(RTTNews) - European stocks declined on Wednesday ahead of reciprocal tariffs announcement from the U.S. later in the day.

The new tariff rates will take effect immediately after they are announced by U.S. President Donald Trump at 2000 GMT.

The pan European STOXX 600 was down 0.8 percent at 535.34 after climbing 1.1 percent on Tuesday.

The German DAX fell 1.2 percent, France's CAC 40 shed 0.6 percent and the U.K.'s FTSE 100 was down 0.4 percent.

Nordex SE rallied 2.2 percent. The wind turbine manufacturer announced that it has received two orders totaling 750 MW from a wind energy project developer in Türkiye.

Fuchs SE, a German manufacturer of lubricants and related specialty products, fell 1 percent after acquiring U.S.-based IRMCO Advanced Metalforming Lubricant Technologies for an undisclosed sum.

Grafton Group shares were down 1 percent. The distributor of building materials said that it has agreed to acquire HSS Hire Ireland Ltd. from HSS Hire Group for 31.6 million euros on a cash and debt free basis.

Svitzer shares soared 31 percent after Denmark's AP Moller Holding proposed an all-cash deal to acquire the remaining shares of the towage and marine service provider.

Stocktwits
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