Latest news with #FCHI
Yahoo
16-04-2025
- Business
- Yahoo
US stocks drop after Nvidia warns over hit from controls on China exports
US stocks moved lower on Wednesday as trader sentiment took a downturn after a warning from artificial intelligent (AI) giant Nvidia (NVDA) that the US was limiting chip exports to China. London's FTSE (^FTSE) was retreating during the day, but made headway later in the afternoon following gains from mining and energy stocks. The index was up 26.48 points, or 0.32%, to close at 8,275.6. Germany's Dax (^GDAXI) index also staged a recovery on Wednesday afternoon, gaining 0.27% at the end of the day. France's Cac 40 (^FCHI) was treading water, closing 0.07% lower. US stocks were declining when trading began on Tuesday, with the technology-focused Nasdaq (^IXIC) index tumbling about 2%, dragged lower by losses of around 7% for Nvidia. By the time European markets closed, the S&P 500 (^GSPC) was down about 1.2%, and the Dow Jones (^DJI) was 0.5% lower. Nvidia told investors on Tuesday evening that it is expecting to face a 5.5 billion US dollar (£4.2 billion) hit from charges relating to a new licence to ship its chips to China, including Hong Kong. The company said it been informed by the US government that it needs a licence to export its H20 AI chip to China. The requirement will be in place for the 'indefinite future', Nvidia said. Tensions between the US and China have been escalating, with the world's two largest economies steadily increasing tariffs on each other's goods since Donald Trump raised tariffs on dozens of countries. Russ Mould, investment director at AJ Bell (AJB.L), said the update from Nvidia 'marks a new chapter in the escalating tit-for-tat between Washington and Beijing'. He added: 'The deteriorating relationship between the two countries means China's better-than-expected GDP (gross domestic product) figures for the first quarter may not attract too much attention given they cover a period before the Trump administration unleashed its trade policy.' Meanwhile, the price of Brent crude oil soared about 1.6% to 65.70 US dollars per barrel. The pound was continuing to rise against the US dollar, and was up 0.1% to 1.324. However, sterling dropped about 0.8% against the euro, to 1.164. In company news, shares in FTSE 100-listed Bunzl (BNZL.L) plummeted by more than a quarter after the distributor said it had seen weaker sales in its North American business, and flagged a 'significant decline' in its adjusted operating profit. The business, which has its largest market in the US, blamed a 'more uncertain macro environment' following the swathe of new tariffs introduced by Mr Trump on goods entering the country. Bunzl said it was ramping up cost-cutting efforts to try and improve its financial performance. Shares in the company were 25.9% lower at close. Elsewhere, Britain's biggest housebuilder Barratt Redrow (BTRW.L) said its forward home sales were down 10%, compared with the same point last year. Nonetheless, the company said it was on track to complete between 16,800 and 17,200 homes this year, in line with previous forecasts. Shares in the firm closed 2.6% higher. The biggest risers on the FTSE 100 (^FTSE) were Endeavour Mining (EDV.L), up 132p to 2,184p, Shell (SHEL.L), up 63p to 2,434.5p, AB Foods (ABF.L), up 55p to 2,159p, Barratt Redrow (BTRW.L), up 10.9p to 438.6p, and Admiral Group (ADM.L), up 78p to 3,258p. The biggest fallers on the FTSE 100 were Bunzl (BNZL.L), down 788p to 2,290p, Diploma (DPLM.L), down 136p to 3,824p, Intermediate Capital (ICG.L), down 60p to 1,756p, Informa (INF.L), down 23.6p to 691.4p, and Melrose Industries (MRO.L), down 13.2p to 419.4p. Sign in to access your portfolio
Reuters
15-04-2025
- Automotive
- Reuters
European shares rise after Trump touts auto-related tariff break, LVMH slumps
April 15 (Reuters) - European shares edged higher on Tuesday as investors digested fast-changing U.S. tariff plans, while LVMH slumped after disappointing first-quarter revenue from the world's largest luxury group underscored the damage caused by the trade war. The pan-European STOXX 600 (.STOXX), opens new tab ticked up 0.6%, as of 0706 GMT, with most regional indexes trading higher barring France (.FCHI), opens new tab, which fell 0.2%, weighed down by LVMH's ( opens new tab 7.1% decline. The company said shoppers in the United States cut spending on beauty products and drinks, while sales in China stayed weak during the quarter. Peers including Cartier owner Richemont (CFR.S), opens new tab, Gucci parent Kering ( opens new tab and Moncler ( opens new tab fell between 2% and 2.8%. But stock indexes in Germany (.GDAXI), opens new tab, Spain (.IBEX), opens new tab, and the UK (.FTSE), opens new tab rose between 0.5% and 0.9%. The auto and parts index (.SXAP), opens new tab rose 2.5%, leading gains among sectors, after U.S. President Donald Trump said he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Canada and other countries. Investors now await the European Central Bank's policy meeting on Thursday, with markets widely anticipating a 25-basis-point rate cut. BE Semiconductor Industries (BESI) ( opens new tab jumped 7.1% after U.S.-based computer chip equipment supplier Applied Materials (AMAT.O), opens new tab bought a 9% stake in the Dutch semiconductor advanced packaging firm. Ericsson ( opens new tab rose 6.9% after the telecoms equipment maker reported much better-than-expected first-quarter core earnings.
Yahoo
16-03-2025
- Business
- Yahoo
Eurozone will keep outperforming 'into the future'
European stocks (^FTSE, ^FCHI) are facing pressure after President Trump threatened 200% tariffs on European wines and other alcohol in response to the EU's 50% tariff on US whiskey. Northwestern Mutual Wealth Management chief investment officer Brent Schutte joins Catalysts host Madison Mills to discuss the potential impacts of these trade tensions on US–Europe relations, US exceptionalism, and European stock performance. To watch more expert insights and analysis on the latest market action, check out more Catalysts here. Sign in to access your portfolio
