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European Shares Drift Lower As Trump Threatens Fed Independence
(RTTNews) - European stocks traded lower on Tuesday as U.S. President Donald Trump's remarks on Federal Reserve Chair Jerome Powell reignited concerns about Fed independence and political interference.
Trump's message about non-tariff barriers also added to concerns over the trade war. The pan-European STOXX 600 dropped 0.45 percent to 504.12 as traders returned to their desks after a long holiday weekend for Good Friday and Easter.
The German DAX slipped 0.3 percent and France's CAC 40 shed half a percent while the U.K.'s FTSE 100 was up 0.2 percent.
Roche Holding AG fell about 1 percent after the Swiss pharmaceutical giant unveiled plans to invest USD 50 billion in pharmaceuticals and diagnostics in the United States over the next five years.
Danish drug maker Novo Nordisk slumped 8 percent after U.S. rival Eli Lilly released promising trial results for its experimental obesity pill, orforglipron, in a trial of diabetes patients.
Germany's ProSiebenSat.1 rallied 2.7 percent after extending Bert Habets' contract as Group CEO for another three years.
J Sainsbury shares jumped 2.6 percent in London. The merchandise retail company has confirmed the launch of a share buyback program worth up to 200 million pounds.
Sales and marketing services provider DCC tumbled nearly 3 percent following the announcement of its healthcare division's sale to HealthCo Investment Limited for £1,050 million.
Biotage AB shares soared 56 percent after KKR made a cash offer for the Swedish biotechnology firm, valuing it at around 11.6 billion Swedish crowns ($1.22 billion).
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