Latest news with #CAC40
CNBC
3 hours ago
- Business
- CNBC
European stocks set for downbeat open after U.S. inflation data, tariffs fuel growth concerns
Houses in South London in February 2025. Dan Kitwood | Getty Images News | Getty Images Good morning from London, and welcome to CNBC's live blog covering all the action and business news in European financial markets on Wednesday. Futures data from IG suggests regional markets will start the week flat to lower, with London's FTSE 100 unchanged and both France's CAC 40 and Germany's DAX expected to open 0.2% lower. Italy's FTSE MIB is seen opening 0.35% higher. The downbeat mood for regional markets comes after a difficult start to the week, after U.S. President Donald Trump announced last weekend that he would impose a 30% tariff on goods imported from the EU starting Aug. 1. Hope that the bloc will negotiate a trade deal with the White House before the end of the month was outweighed Tuesday by global growth concerns after data showed U.S. inflation rose to 2.7% from 2.4% in June. — Holly Ellyatt The ASML logo is seen at its headquarters in Veldhoven, Netherlands, on June 16, 2023. Piroschka Van De Wouw | Reuters Earnings season is upon us, with ASML , Richemont and Handelsbanken announcing their latest financial results on Thursday. On the data front, we have the latest U.K. inflation print for June and EU trade data. — Holly Ellyatt
San Francisco Chronicle
21 hours ago
- Business
- San Francisco Chronicle
World shares are mostly higher although worries continue over Trump's tariffs
TOKYO (AP) — Shares were mostly higher in Europe on Monday following gains in Asian markets despite lingering worries about President Donald Trump's latest updates to his tariffs. Shares in tech giant Nvidia jumped 5.2% in pre-market trading after its CEO said the Trump administration will let it sell to China its advanced H20 chips used to develop artificial technology. Germany's DAX gained 0.3% to 24,222.95 and the CAC 40 in Paris was up less than 0.1% at 7,812.14. Britain's FTSE 100 was nearly unchanged at 8,996.90. The future for the S&P 500 gained 0.4% while that for the Dow Jones Industrial Average slipped 0.1%. In Asian trading, Japan's benchmark Nikkei 225 rose 0.6% to finish at 39,678.02. A nationwide election for the upper house of Japan's Parliament, set for Sunday, also added to the wait-and-see attitude among market players. Analysts say the ruling pro-business Liberal Democratic Party may face an uphill battle and will likely need coalition partners, including possibly new ones, to keep its grip on power. Australia's S&P/ASX 200 added 0.7% to 8,630.30. South Korea's Kospi edged up 0.4% to 3,215.28. Hong Kong's Hang Seng rose 1.6% to 24,590.12, while the Shanghai Composite dipped 0.4% to 3,505.00, after the government reported that China's economy slowed in the last quarter as Trump's trade war escalated. Tuesday's data showed the economy expanded at a robust 5.2% annual pace, compared with 5.4% annual growth in January-March. In quarterly terms, the world's second-largest economy expanded by 1.1%, according to government data. Despite worries about the damage Trump's tariffs may have on the region's exporters, speculation continues that he may ultimately back down on them. They don't take effect until Aug. 1, which leaves time for more negotiations. On Wall Street Monday, the S&P 500 edged up by 0.1%, the Dow added 0.2% and the Nasdaq composite rose 0.3%. If Trump were to enact all his proposed tariffs on Aug. 1, they would raise the risk of a recession. That would not only hurt American consumers but also raise the pressure on the U.S. government's debt level relative to the economy's size, particularly after Washington approved big tax cuts that will add to the deficit. For the time being, the uncertainty around tariffs could help keep markets unsteady. This upcoming week has several potential flashpoints that could shake things up. The latest reading on inflation across the U.S. comes Tuesday, with economists expecting it to show inflation accelerated to 2.6% last month from 2.4% in May. Companies are also lining up to report how they performed during the spring. JPMorgan Chase and several other huge banks will report their latest quarterly results Tuesday, followed by Johnson & Johnson on Wednesday and PepsiCo on Thursday. Fastenal, a distributor of industrial and construction supplies, reported Monday a stronger profit for the latest quarter than analysts expected. Its stock rose 2.9%, though it also said that market conditions remain sluggish. Shares of Kenvue rose 2.3% in shaky trading after the former division of Johnson & Johnson said CEO Thibaut Mongon is stepping down. Kenvue, the maker of Listerine and Band-Aid brands, is in the midst of a strategic review of its options, 'including ways to simplify the company's portfolio and how it operates,' according to board chair Larry Merlo. Some of the biggest moves in financial markets were for crypto, where bitcoin continues to set records. This upcoming week is Crypto Week in Washington, where Congress will consider several bills to 'make America the crypto capital of the world.'
Sydney Morning Herald
2 days ago
- Business
- Sydney Morning Herald
ASX set to rise, Wall Street advances amid doubts about Trump's tariffs
For the time being, all the uncertainty around tariffs could help keep markets unsteady. This upcoming week has several potential flashpoints that could shake things. On Tuesday will come the latest reading on inflation across the United States. Economists expect it to show inflation accelerated to 2.6 per cent last month from 2.4 per cent in May. Companies are also lining up to report how they performed during the spring. JPMorgan Chase and several other huge banks will report their latest quarterly results on Tuesday, followed by Johnson & Johnson on Wednesday and PepsiCo on Thursday. Fastenal, a distributor of industrial and construction supplies, on Monday reported a stronger profit for the latest quarter than analysts expected. Its stock rose 2.9 per cent, though it also said that market conditions remain sluggish. Shares of Kenvue rose 2.3 per cent in shaky trading after the former division of Johnson & Johnson said CEO Thibaut Mongon is stepping down. Kenvue, the maker of Listerine and Band-Aid brands, is in the midst of a strategic review of its options, 'including ways to simplify the company's portfolio and how it operates,' according to Larry Merlo, the board's chair. Waters slumped 11.9 per cent after saying it had agreed to merge with Becton, Dickinson and Co.'s biosciences and diagnostic solutions business in a deal valued at roughly $US17.5 billion ($26.7 billion). In the bond market, Treasury yields held relatively steady. The yield on the 10-year Treasury slipped to 4.42 per cent from 4.43 per cent late Friday. Loading In stock markets abroad, indexes fell across much of Europe. Germany's DAX lost 0.4 per cent, and France's CAC 40 fell 0.3 per cent. But indexes rose 0.8 per cent in South Korea and 0.3 per cent in Hong Kong. Chinese shares advanced after the government reported that exports rose last month as a truce in a tariff war prompted a surge in orders ahead of the August 1 deadline for reaching a new trade deal with Washington.
Yahoo
2 days ago
- Business
- Yahoo
European markets open in the red after Trump threatens 30% EU tariff
Investors in Europe reeled from US President Donald Trump's tariff threats on Monday morning, sending the major indexes into negative territory. As of around 9.30am CEST, France's CAC 40 was down 0.52% at 7,788.23, the UK's FTSE 100 slipped 0.38% to 8,941.12, and Germany's DAX dropped 0.85% to 24,049.73. Spain's IBEX 35 fell 0.80% to 13,897.80, while Italy's FTSE MIB dropped 0.86% to 39,726.27. The STOXX 600 slid 0.48% to 544.73 and the STOXX 50 fell 0.83% to 5,338.57. The movements come as EU trade ministers are meeting on Monday morning to discuss President Trump's surprise announcement of 30% tariffs on the European Union. Trump shared the plans on Saturday and said that the same rate, set to kick in on 1 August, would be applied to goods from Mexico. European officials have been working to secure a deal with the US after the president threatened a 50% tariff on EU exports in May, up from an initially proposed 20% rate. President Trump then retracted the threat of a 50% duty, although retained separate tariffs on exports like steel, aluminium, and cars. In response to Trump's announcement over the weekend, the president of the European Commission Ursula von der Leyen said the EU would not impose retaliatory tariffs on US imports before 1 August, allowing time for negotiation. Denmark's foreign minister, Lars Løkke Rasmussen, also told reporters ahead of the meeting on Monday: 'We shouldn't impose countermeasures at this stage, but we should prepare to be ready to use all the tools in the toolbox.' He added: 'So we want a deal, but there's an old saying: 'If you want peace, you have to prepare for war.'" Related Which European economy stands to suffer the most from US tariffs? EU trade ministers to mull US tariffs as Germany's Merz cautions calm Maroš Šefčovič, the EU's trade representative in its talks with the US, also said on Monday that negotiations would continue. 'I'm absolutely 100% sure that a negotiated solution is much better than the tension which we might have after 1 August." He told reporters in Brussels: 'I cannot imagine walking away without genuine effort. Having said that, the current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including, if necessary, well-considered proportionate countermeasures.' In light of US isolationism, the EU is also looking to expand trade with alternative partners. Leaders from the bloc will travel to China for a summit later this month, seeking to promote stronger relations despite disagreements over the alleged 'dumping' of cheap Chinese goods in Europe. This accusation prompted the EU to impose its own tariffs on Chinese goods last year. While in China for the summit, EU leaders will also be courting other Pacific nations like South Korea, Japan, Vietnam, Singapore, the Philippines, and Indonesia, whose prime minister visited Brussels over the weekend to sign a new economic partnership with the EU. The downbeat investor sentiment in Europe also comes despite pledges to increase defence spending. France's president Emmanuel Macron on Sunday pledged to raise France's military spending by €6.5 billion over the next two years. Macron said the 2026 defence budget would be raised by €3.5bn, and another €3bn in 2027. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
2 days ago
- Business
- Euronews
European markets open in the red after Trump threatens 30% EU tariff
Investors in Europe reeled from US President Donald Trump's tariff threats on Monday morning, sending the major indexes into negative territory. As of around 9.30am CEST, France's CAC 40 was down 0.52% at 7,788.23, the UK's FTSE 100 slipped 0.38% to 8,941.12, and Germany's DAX dropped 0.85% to 24,049.73. Spain's IBEX 35 fell 0.80% to 13,897.80, while Italy's FTSE MIB dropped 0.86% to 39,726.27. The STOXX 600 slid 0.48% to 544.73 and the STOXX 50 fell 0.83% to 5,338.57. The movements come as EU trade ministers are meeting on Monday morning to discuss President Trump's surprise announcement of 30% tariffs on the European Union. Trump shared the plans on Saturday and said that the same rate, set to kick in on 1 August, would be applied to goods from Mexico. European officials have been working to secure a deal with the US after the president threatened a 50% tariff on EU exports in May, up from an initially proposed 20% rate. President Trump then retracted the threat of a 50% duty, although retained separate tariffs on exports like steel, aluminium, and cars. In response to Trump's announcement over the weekend, the president of the European Commission Ursula von der Leyen said the EU would not impose retaliatory tariffs on US imports before 1 August, allowing time for negotiation. Denmark's foreign minister, Lars Løkke Rasmussen, also told reporters ahead of the meeting on Monday: 'We shouldn't impose countermeasures at this stage, but we should prepare to be ready to use all the tools in the toolbox.' He added: 'So we want a deal, but there's an old saying: 'If you want peace, you have to prepare for war.'" Maroš Šefčovič, the EU's trade representative in its talks with the US, also said on Monday that negotiations would continue. 'I'm absolutely 100% sure that a negotiated solution is much better than the tension which we might have after 1 August." He told reporters in Brussels: 'I cannot imagine walking away without genuine effort. Having said that, the current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including, if necessary, well-considered proportionate countermeasures.' In light of US isolationism, the EU is also looking to expand trade with alternative partners. Leaders from the bloc will travel to China for a summit later this month, seeking to promote stronger relations despite disagreements over the alleged 'dumping' of cheap Chinese goods in Europe. This accusation prompted the EU to impose its own tariffs on Chinese goods last year. While in China for the summit, EU leaders will also be courting other Pacific nations like South Korea, Japan, Vietnam, Singapore, the Philippines, and Indonesia, whose prime minister visited Brussels over the weekend to sign a new economic partnership with the EU. The downbeat investor sentiment in Europe also comes despite pledges to increase defence spending. France's president Emmanuel Macron on Sunday pledged to raise France's military spending by €6.5 billion over the next two years. Macron said the 2026 defence budget would be raised by €3.5bn, and another €3bn in 2027.
