European shares rise as investors buy dips, shrug off US tariff threats
The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.3%, as of 0713 GMT, rising for a third consecutive session after touching a five-week low on Friday.
Germany's blue-chip DAX (.GDAXI), opens new tab and France's CAC 40 (.FCHI), opens new tab climbed 0.5% and 0.4%, respectively.
Shares of Commerzbank (CBKG.DE), opens new tab rose nearly 1% after the German lender posted its quarterly net profit above expectations and raised parts of its full-year outlook.
Siemens Energy (ENR1n.DE), opens new tab said it expects to hit the upper end of its 2025 growth outlook estimates. Shares rose 1.2%.
Swiss President Karin Keller-Sutter was set to meet U.S. Secretary of State Marco Rubio as Switzerland seeks to negotiate the 39% tariff scheduled to take effect on Thursday.
Switzerland's benchmark SMI index (.SSMI), opens new tab edged 0.1% lower.
European healthcare stocks (.SXDP), opens new tab slipped 0.7%, weighed down by a 1.3% drop in heavyweight Novo Nordisk (NOVOb.CO), opens new tab after the Danish drugmaker maintained its full-year outlook, just days after slashing its 2025 sales outlook.
The Wegovy maker said it would cut costs after losing nearly $95 billion in market value last week.
Adding to sector pressures, U.S. President Donald Trump said on Tuesday that Washington would initially place a "small tariff" on pharmaceutical imports, eventually increasing it to 250%.
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Reuters
27 minutes ago
- Reuters
Nasdaq tumbles, European shares rise as investors digest Ukraine peace efforts
LONDON/SAN FRANCISCO, Aug 19 (Reuters) - Wall Street stocks fell, European equities rose and oil edged down on Tuesday as traders assessed the previous day's White House talks on the war in Ukraine, and looked ahead to a key meeting of central bankers. U.S. President Donald Trump said he hoped Russia's Vladimir Putin would move forward on ending the war in Ukraine but conceded the Kremlin leader may not want to make a deal. On Monday, Trump told Ukrainian President Volodymyr Zelenskiy the United States would help guarantee Ukraine's security in any agreement to end Russia's war there, though the extent of any assistance was not immediately clear. Declines in Nvidia (NVDA.O), opens new tab and other heavyweight artificial intelligence stocks pulled the S&P 500 (.SPX), opens new tab down 0.6% and the Nasdaq (.IXIC), opens new tab down 1.5%. The Dow Jones Industrial Average (.DJI), opens new tab ended roughly flat after briefly touching an all-time high. Europe's broad STOXX600 index rose 0.7% (.STOXX), opens new tab, outperforming Asian stocks (.MIAPJ0000PUS), opens new tab, which fell slightly. Europe's gains were capped by declines in defence names, with the STOXX Europe Total Market Aerospace & Defense index (.SXPARO), opens new tab down 2.6%, as traders saw the talks as a chance to take profit in the sector after a strong run. With any breakthrough in talks, "I think European stocks are likely the biggest winners, and within that framework, I think industrial companies, construction for rebuilding materials, and financial companies," said Michael Arone, chief investment strategist at State Street Investment Management. Losers could include shares in energy and defence after their recent gains, he said. Energy markets were also assessing the chance of an end of the war in Ukraine, and oil prices fell on speculation that progress in the talks could lead to the lifting of sanctions on Russian crude, boosting supply. The moves were not dramatic though, and some analysts said developments were unlikely to jolt oil and gas markets significantly. Brent crude futures were down 57 cents at 66.06 a barrel, with U.S. crude down 77 cents at $62.65. The other main event for markets this week is the Federal Reserve's August 21-23 Jackson Hole symposium, where Chair Jerome Powell is due to speak on the economic outlook and the U.S. central bank's policy framework. His remarks will be closely watched as the Fed grapples with sticky inflation and signs of slowing growth. Futures markets imply at least two 25 basis point rate cuts this year, reflecting a view that the Fed will not view inflation as a long-term problem. "There's an anxiety about Powell's comments at Jackson Hole," said Ross Mayfield, investment strategist at Baird Private Wealth Management. "Some investors fear the Fed is going to be a bit behind the curve and higher interest rates have a big impact on growth stocks." Trump has been pressuring the Fed to cut rates dramatically, and has publicly speculated about replacing Powell before his term ends next year. "The question is to what degree is the Fed happy to ignore the inflation data because they think it is distorted by tariffs," said Ian Samson, portfolio manager at Fidelity International. "If you look out one year, you're not going to have Powell as Fed chair, there are a couple of governors to replace, so the balance is clearly going towards people who are willing to look through tariffs, and thus continue to lower interest rates." Such a scenario would likely bode well for equities, help shorter-dated government bonds, and weigh on the dollar, though the impact for longer-dated bonds is less clear, said Samson, adding that he was largely avoiding the long end of the U.S. yield curve. The S&P 500 will end 2025 just below current near-record levels, reflecting tempered optimism amid ongoing concerns over the economic impact of Trump's global tariffs and uncertainty surrounding Fed's rate cuts, according to a new Reuters poll. Longer-dated yields have been rising worldwide in recent months. German and British 30-year yields have tested multi-decade highs, and the latter rose sharply late on Monday. Bond markets were calmer on Tuesday. U.S., German and British government bond yields all fell across their respective curves, with the benchmark 10-year Treasury yield down 3 basis points at 4.31%. The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, was last up 0.15% on the day. Gold dipped 0.4% to $3,317.71 an ounce.
The Independent
an hour ago
- The Independent
EuroMillions winning numbers for record-breaking prize revealed
The winning numbers for tonight's £210 million EuroMillions jackpot have been revealed. The National Lottery EuroMillions winning numbers are 24, 31, 34, 41 and 43. The lucky numbers are 06 and 08 . A single EuroMillions player could become the UK 's record-making National Lottery winner if the prize is claimed. The EuroMillions jackpot is capped once it has reached 250 million Euros – an estimated £210 million. If there are no winners on Tuesday, it will now stay at 250 million Euros for a further four draws until it must be won in the fifth draw. In the 'Must Be Won' draw, if no ticket matches all five main numbers and two Lucky Stars, the jackpot prize will roll down into the prize tier where there is at least one winner – likely to be five main numbers and one Lucky Star. A single UK winner would instantly become the nation's largest-ever National Lottery winner. They would knock into second place the anonymous winner of a £195 million prize in 2022. It follows an Irish family syndicate claiming a EuroMillions jackpot worth 250 million euros (£216 million) on June 17. The jackpot had reached the maximum amount on 6 June after rolling over several times. Andy Carter, senior winners' advisor at Allwyn, said: 'Tuesday's jackpot has the ability to transform not just the winner's life, but the life of the friends and family around them. 'So, make sure you get a ticket to be in with a chance of banking Britain's biggest ever win.' Here are the 10 biggest UK lottery wins to date – all from EuroMillions draws: Anonymous, £213,000,000, 18 June 2025 Anonymous, £195,707,000, 19 July 2022 Joe and Jess Thwaite, £184,262,899.10, 10 May 2022 Anonymous, £177,033,699.20, 26 November 2024 Anonymous, £171,815,297.80, 23 September 2022 Anonymous, £170,221,000, 8 October 2019 Colin and Chris Weir, £161,653,000, 12 July 2011 Adrian and Gillian Bayford, £148,656,000, 10 August 2012 Anonymous, £123,458,008, 11 June 2019 Anonymous, £122,550,350, April 2021
Reuters
an hour ago
- Reuters
Turkish Airlines says Spain's Air Europa accepts its offer to buy a minority stake
ANKARA, Aug 19 (Reuters) - Turkish Airlines ( opens new tab said on Tuesday that its binding offer for the acquisition of a minority stake in Spanish airline Air Europa has been accepted. In a statement to the Public Disclosure Platform, Turkish Airlines said the transaction involves an investment of 300 million euros ($349.38 million). ($1 = 0.8587 euros)
