European shares mixed on caution ahead of US tariff deadline
The pan-European STOXX 600 index was flat at 541.08 points, as of 0709 GMT.
Other major regional indexes were mixed, with Germany's DAX up 0.4 per cent, France's CAC 40 down 0.1 per cent, Spain's IBEX edging 0.1 per cent higher, and the UK's FTSE 100 slipping 0.2 per cent.
The US is close to finalising several trade agreements in the coming days and will notify other countries of higher tariff rates by July 9, Trump said on Sunday. The new rates are set to take effect from August 1.
Trump also threatened an extra 10 per cent tariff on countries aligning themselves with the "anti-American policies" of the BRICS group of developing nations.
Both the tariff levels and effective dates have become moving targets as Trump, on Friday, added to the confusion by mentioning that some tariffs could reach up to 70 per cent, levels far higher than the 10 per cent-50 per cent range he announced in April.
A White House official said on Friday that US trade talks with the European Union were continuing and there was optimism an agreement could be reached in short order.
European energy stocks fell 1.3 per cent, tracking oil prices. Banks were up 0.6 per cent.
Capgemini fell 2.8 per cent after the French IT services firm agreed to buy technology outsourcing company WNS for a cash payment of $3.3 billion.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
2 hours ago
- The Star
Asean News Headlines at 10pm on Monday (July 7, 2025)
Malaysia: * Anwar leads efforts to strengthen strategic investments, global economic cooperation * Malaysia reaffirms independent trade policy amid Trump's tariff threat * Malaysia fully supports an Asean Power Grid, says PM Anwar * MACC seeks to forfeit over RM169mil in cash belonging to Ismail Sabri * SRC International meant for the people, but it was Najib who benefitted, court hears * KL all geared up to host Asean Foreign Ministers' Meeting * Four-nation exercise to boost regional nuclear security * Johor set to thrive under new state secretary's leadership, says MB * Housewife charged over offensive FB comments against King * Rafizi calls for parliamentary committee over judiciary crisis * Sarawak to increase state seats from 82 to 99 * S'gor Opposition snubs gas blast briefing, demands transparency * Malaysia's digital investments soar 125% to RM29.49bil in 2Q25 * Govt committed to strengthening aerospace ecosystem, says PM Anwar * Anwar and Modi discuss IIT campus in M'sia, investment in future-focused sectors * Firm action against Selangor mosque administrators defying preaching rules, says exco * Malaysia set to launch AI guidelines for media, PR, digital content creation, says Fahmi KUALA LUMPUR, Monday, July 7:Singaporean Ministry of Foreign Affairs Permanent Secretary, Albert Chua, attends the ASEAN Senior Official's Meeting, today held in conjunction with the 58th Asean Foreign Ministers' Meeting (AMM) and related meetings from July 8 to 11. - Photo: Bernama Singapore: * Paternity leave take-up in Singapore rose to 56% in 2023; experts hope for further boost after extension * Singapore's longest-serving mufti Syed Isa Mohamed passes away on Monday (July 7) at the age of 87 * Singapore sees fewer marriages, later unions in 2024 * S$1.46bil nickel scam: Ng Yu Zhi opts to remain silent after judge calls for his defence * Singaporean man gets four months' jail for teaching doctrine contrary to Islamic laws * Malaysian-born actor Christopher Lee wins big at Singapore's Star Awards * Dollar drifts near multi-year lows as investors brace for Trump tariff deadline * Asian markets drop as Trump's tariff deadline looms / Asia stocks slip amid US tariff confusion, oil skids Indonesia: * Bali on major alert as Indonesia's weather agency warns of giant six-metre waves off the island * Indonesian National Park introduces tracking bracelets for hiker safety; new measures after recent tragedy * Indonesia's BRICS membership marks key initiative in Prabowo's first year as president * Indonesia's top negotiator to visit US ahead of tariff deadline: Official * Mount Lewotobi Laki-Laki spews 18-kilometre ash tower: Agency * Climbing should never kill, Brazilians unhappy after hiker's death in Indonesia * Oil falls as OPEC+ hikes August output more than expected Activists of Writing Thailand's Cannabis Future attend a protest at the Ministry of Public Health to call for a responsible and well-regulated approach to cannabis and the urgent passage of an act, as Thailand moves to recriminalise marijuana as a narcotic, in Nonthaburi province, Thailand, on Monday, July 7, 2025. -- Photo: REUTERS/Chalinee Thirasupa Thailand: * Escalating tension: Cambodia says Thailand attempts to 'tarnish' it with hacking claims * Thailand submits new trade proposal offering zero tariffs on many US goods * Thailand backtracks on legalising casino plans as political turmoil deepens * Building under construction collapses in Bangkok, injuring 13 workers * Chinese tourist numbers to Thailand plummet 34%, industry awaits recovery * Thailand to offer US more trade concessions to avert 36% tariff Philippines: * Trump sets Aug 1 start for tariffs ahead of Wednesday (July 9) deadline * Japan to export used destroyers to Philippines to strengthen presence in South China Sea, Yomiuri reports * Philippines' Marcos open to limiting, taxing online gambling * Taal Volcano may erupt anytime, warns institute * Filipino star Fifth Solomon declares 'I deserve to live' after hospitalisation due to online bullying SEPANG, July 7: Philippines Secretary of Foreign Affairs Ma. Theresa P. Lazaro (left) arrives at the Kuala Lumpur International Airport (KLIA) for the 58th AseanForeign Ministers' Meeting (AMM) and related meetings, which will kick off on Tuesday in Kuala Lumpur. -- Photo: Bernama Vietnam: * BRICS in wait-and-see mode after Trump threatens extra tariffs * Fighting pollution: Vietnam prepares to implement new emission standards for motorcycles * All hospitals in Vietnam required to implement e-prescriptions by Oct 1 * Vietnam apartment block fire kills eight * Robust exports buoy second-quarter growth - Recent US trade deal brightens outlook for economy in Vietnam Myanmar: * Thousands fleeing the country as Myanmar armed clashes continue to rage on * Thousands of refugees flee into India's Mizoram state after clashes in Myanmar * 28 killed, 219 injured in Myanmar's Yangon-Mandalay highway accidents in H1 * How Xiaomi succeeded where Apple failed SEPANG, July 7:Vietnamese Deputy Prime Minister and Foreign Affairs Minister, Bui Thanh Son (left), and his spouse, Vu Thi Bich Ngoc, arrive at the Kuala Lumpur International Airport (KLIA) Terminal 1 today ahead of the 58th Asean Foreign Ministers' Meeting (AMM) and related meetings at the Kuala Lumpur Convention Centre (KLCC) from July 8 to 11. - Photo: Bernama Cambodia: * UNDP-Cambodia and Asean mine action centre renew partnership to accelerate knowledge sharing, collaboration * Cambodia dismisses Thai hacking allegations, cites own cyberattacks * Work on bridge across Mekong River in Cambodia's Kratie province nears completion * UN council votes to keep researching abuses for LGBT people despite US U-turn Laos: * Laos to release over 65 million fish fingerlings in 2025 to support biodiversity * Lao PM urges Attapeu to scrutinise investment projects, strive for economic self-reliance * Visa's 24/7 war room takes on global cybercriminals Brunei: * Brunei inaugurates South-East Asia's first net-zero shrimp aquaculture and AI integration hub * Brunei blowpipe team hits target at Sibu competition * Increase sin and sugar taxes to fund health systems, WHO calls Philippine Leroy-Beaulieu arrives to attend the Schiaparelli Haute Couture Fall/Winter 2025-2026 collection show in Paris, France, Monday, July 7, 2025. -- Photo: REUTERS/Abdul Saboor AseanPlus: * Rock band My Chemical Romance to perform in KL in April 2026 / Band will also perform in Singapore * Malaysia-based idol group KLP48 to celebrate 1st anniversary with concert in KL * Renowned forensic pathologist Dr Philip Beh passes away in Hong Kong * Malaysian trio makes mark at World Rubik's Championship in Seattle * TVB actor Joel Chan visits Malaysia with family, celebrates son's birthday in KL * Malaysian rapper Kmy Kmo and versatile singer Halim revs up for their new single with a social message: 'Layar Boneka' * Heatwave grips South Korea as monsoon ends early * China says BRICS not seeking 'confrontation' after Trump tariff threat * Economist: China, US may reach balanced trade deal * Trump says nations aligning with BRICS' 'anti-American policies' will face additional 10% tariff * Factbox-Big tech rules, agriculture among issues in US trade talks with South Korea * From Karachi to Gaza: Pakistani startup ships prosthetics to child war survivors * The coder 'village' at the heart of China's AI frenzy * Dozens leave Japan islands after nearly 1,600 quakes * Students shelter in libraries as heatwave hits eastern China * Hong Kong fans queue for opening of Cristiano Ronaldo exhibition * Japanese firms take steps to protect outdoor workers as heatwave sizzles on * What you need to know about the Saja Boys, grim reapers in K-pop form * Australian Erin Patterson convicted of mushroom murders * Key facts in Australia's mushroom murder trial * Support for Japan PM Ishiba slides further as key election approaches * China widens crackdown on illicit Botox training courses * South Korea's balloon crackdown hits anti-North Korea activists * How 'K-pop Demon Hunters' made Saja Boys' soul-stealing 'Your Idol' performance * Australia wants to bar children from social media. Can it succeed? * Singer Jay Chou shares photos with 'Initial D' co-star Edison Chen * India court rejects Turkey-based Celebi's airport security clearance, lawyer sources say * Regulatory curbs hurt mainland China IPOs, ceding first-half crown to Hong Kong * Barbie Hsu's family reportedly needs ex Wang Xiaofei's wife's permission to see children * Schools with shrinking numbers must fix their problems: Hong Kong education chief * Seoul court to hold arrest warrant hearing for ex-president Yoon on July 9 * Mushroom murderer Erin Patterson's decision to testify fails to convince jury * Australian police officer who fatally shot Indigenous teenager was racist, coroner finds * Australia's Victoria to start anti-hate task force after Melbourne synagogue arson * Huawei's AI lab denies that one of its Pangu models copied Alibaba's Qwen * 'He is our new hero': India cricket captain Gill hailed back home after brilliant Test win over England at famed Edgbaston * Motor racing - Norris revels in emotional first home win * Tennis - Alcaraz resists red-hot Rublev to reach Wimbledon quarter-finals / Sabalenka stands tall, Norrie survives to reach Wimbledon quarter-finals
New Straits Times
3 hours ago
- New Straits Times
BRICS nations resist 'anti-American' label after Trump tariff threat
RIO DE JANEIRO: Developing nations participating in the BRICS summit on Monday brushed away an accusation from US President Donald Trump that the bloc is "anti-American," as he threatened them with additional 10% tariffs. Trump's threat on Sunday night came as the US government prepared to finalize dozens of trade deals with a range of countries before his July 9 deadline for the imposition of significant "retaliatory tariffs." "Tariffs should not be used as a tool for coercion and pressuring," Mao Ning, the Chinese foreign ministry spokesperson said in Beijing. The BRICS advocates for "win-win cooperation," she added, and "does not target any country." South Africa, which was slapped with 30% tariffs that were later suspended pending trade talks, reaffirmed that it is "not anti-American," trade ministry spokesman Kaamil Alli said, adding that talks with the US government "remain constructive and fruitful." A Kremlin spokesman said Russia's cooperation with the BRICS was based on a "common world view" and "will never be directed against third countries." India and Brazil, which is hosting the BRICS gathering, did not immediately provide an official response to Trump. Brazilian President Luiz Inacio Lula da Silva told reporters that he would only comment after wrapping up the summit. His opening remarks to BRICS leaders gathered in Rio de Janeiro on Monday focused on the environmental and public health issues on the summit's official agenda. A Brazilian diplomat who was not authorized to comment officially said Trump's threat underscored the importance of the BRICS group to give developing nations a way to argue for fair and effective global ground rules on topics such as trade. Many BRICS members and many of the group's partner nations are highly dependent on trade with the United States. New member Indonesia's senior economic minister, Airlangga Hartarto, who is in Brazil for the BRICS summit, is scheduled to go to the US on Monday to oversee tariff talks, an official told Reuters. Malaysia, which was attending as a partner country and was slapped with 24% tariffs that were later suspended, said that it maintains independent economic policies and is not focused on ideological alignment. MULTILATERAL DIPLOMACY With forums such as the G7 and G20 groups of major economies hamstrung by divisions and Trump's disruptive "America First" approach, the BRICS group has presented itself as a haven for multilateral diplomacy amid violent conflicts and trade wars. In a joint statement released on Sunday afternoon, leaders at the summit condemned the recent bombing of member nation Iran and warned that the rise in tariffs threatened global trade, continuing its veiled criticism of Trump's tariff policies. Hours later, Trump warned he would punish countries seeking to join the group. The original BRICS group gathered leaders from Brazil, Russia, India and China at its first summit in 2009. The bloc later added South Africa and last year included Egypt, Ethiopia, Indonesia, Iran, and the United Arab Emirates as members. Saudi Arabia has held off formally accepting an invitation to full membership, but is participating as a partner country. More than 30 nations have expressed interest in participating in the BRICS, either as full members or partners.
The Sun
3 hours ago
- The Sun
Airbus Helicopters signs MoUs with key players in Malaysian aerospace and defence sectors
PETALING JAYA: Airbus Helicopters has signed two memorandums of understanding (MoU) with key players in the Malaysian aerospace and defence sectors – one to foster industrial cooperation in aerospace technologies and another to enhance military helicopter maintenance, repair and overhaul (MRO) capabilities – underscoring their shared commitment to innovation and regional security. The agreements were signed in Paris in the presence of Defence Minister Datuk Seri Mohamed Khaled Nordin, during an official visit to France. Under the first agreement, Airbus Helicopters and the Coalition of Defence Industry Malaysia – CDI (M) – plan to pursue industrial opportunities with the latter's member companies specialising in aerospace and defence development. The MoU marks the first of its kind between Airbus and the Malaysian defence industry, establishing a dedicated framework to drive military helicopter innovations, growth and development in the local defence sector. Under the second agreement, Airbus Helicopters will partner MRO service provider Global Turbine Asia (GTA) to advance in-country helicopter component MRO capabilities. This strategic collaboration aims to strengthen Malaysia's defence ecosystem and accelerate industrial growth in alignment with the nation's plans to acquire new helicopters for its armed forces and related governmental agencies. 'I am looking forward to deepening the collaboration with major European industries, building on the Malaysian aerospace industry's enduring partnerships with leaders like Airbus. We are committed to reinforcing these relationships and exploring new areas of cooperation, ensuring sustained innovation, growth, and long-term value for all stakeholders,' said Global Turbine Asia executive chairman and CDI (M) president Datuk Nonee Ashirin Datuk Mohd Radzi. Airbus Helicopters Asia-Pacific head Vincent Dubrule said, 'These partnerships underscore Airbus' strong commitment to Malaysia's long-term goal of building a resilient, self-reliant defence ecosystem. By deepening local industrial growth and expanding MRO capabilities, we are strengthening the nation's aerospace and defence sectors, supporting technological advancement and enabling greater industrial sovereignty. 'As Malaysia looks to acquire helicopters for key missions like tactical support, combat search-and-rescue, and anti-surface warfare, these partnerships aim to strengthen local expertise, promote technology transfer and build autonomy. Airbus sees CDI (M) and GTA as trusted partners aligned to advance these priorities.'
