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Economic Times
3 days ago
- Automotive
- Economic Times
European stocks log second straight weekly gain on upbeat jobs data, trade optimism
European stock markets saw gains for the second week. This was due to positive job data from the United States and easing trade worries. However, new tariffs on steel and aluminum impacted the auto sector. Germany is looking for a deal on car imports with the U.S. The European Central Bank hinted at ending rate cuts. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads European shares rose for a second straight week, buoyed by robust U.S. employment figures and diminishing concerns over trade friction that had previously rattled investor pan-European STOXX 600 rose 0.3% on Friday, and logged a 0.6% gain for the United States' better-than-expected jobs report relieved anxieties regarding the U.S. labour market's resilience, likely prompting traders to reassess how President Donald Trump 's trade policies might impact employment trends."The data fuelled optimism that the U.S. jobs market, and so the U.S. economy, is weathering the Trump tariff shock better than expected," said Ipek Ozkardeskaya, senior analyst at Swissquote sentiment drew additional support from signs of easing in the U.S.-China trade relationship following Thursday's telephone conversation between Trump and Chinese President Xi the market was also reminded this week of protectionist fervour, as the White House's doubled tariffs on steel and aluminum imports took automotive sector , particularly exposed to these metal duties, bore the brunt, shedding 1.8% over the Chancellor Friedrich Merz indicated he would pursue a deal for duty-free U.S. car imports into Europe in exchange for equivalent tariff waivers on European exports to the United bourses such as Germany's DAX and France's also recorded a second straight week of gains, while and Spain's IBEX logged its eight consecutive week of advances - its longest in nearly four European Central Bank's widely anticipated interest rate cut was overshadowed by President Christine Lagarde's hawkish signals suggesting the monetary easing cycle may be approaching its conclusion. The stance prompted traders to dial back expectations for further rate are also monitoring whether the public spat between Trump and Tesla CEO Elon Musk could spill over into broader markets."Comments from Musk yesterday about Trump tariffs, putting the U.S. in recession in the second half of this year combined with weak data this week is causing investors to sit out for the time-being," said Fiona Cincotta, senior market analyst at City Friday, the financial sector emerged as the standout performer, propelled by UBS , which rose 3.8% after Swiss authorities proposed more stringent rules that could require an additional $26 billion in core capital reserves for the banking other stocks, Dassault Systemes fell 1.2% after the French software company extended the target period of its medium-term earnings per share forecast by one fell 6.2%, placing it among the worst performers on the STOXX 600, after Exane BNP Paribas downgraded the stock to "underperform" from "neutral".On the macroeconomic front, German exports and industrial production contracted more severely than anticipated in April, as U.S. demand faltered following months of accelerated purchasing activity driven by tariff the Channel, British housing prices experienced a steeper-than-expected decline in May.
Time of India
3 days ago
- Business
- Time of India
European stocks log second straight weekly gain on upbeat jobs data, trade optimism
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel European shares rose for a second straight week, buoyed by robust U.S. employment figures and diminishing concerns over trade friction that had previously rattled investor pan-European STOXX 600 rose 0.3% on Friday, and logged a 0.6% gain for the United States' better-than-expected jobs report relieved anxieties regarding the U.S. labour market's resilience, likely prompting traders to reassess how President Donald Trump 's trade policies might impact employment trends."The data fuelled optimism that the U.S. jobs market, and so the U.S. economy, is weathering the Trump tariff shock better than expected," said Ipek Ozkardeskaya, senior analyst at Swissquote sentiment drew additional support from signs of easing in the U.S.-China trade relationship following Thursday's telephone conversation between Trump and Chinese President Xi the market was also reminded this week of protectionist fervour, as the White House's doubled tariffs on steel and aluminum imports took automotive sector , particularly exposed to these metal duties, bore the brunt, shedding 1.8% over the Chancellor Friedrich Merz indicated he would pursue a deal for duty-free U.S. car imports into Europe in exchange for equivalent tariff waivers on European exports to the United bourses such as Germany's DAX and France's also recorded a second straight week of gains, while and Spain's IBEX logged its eight consecutive week of advances - its longest in nearly four European Central Bank's widely anticipated interest rate cut was overshadowed by President Christine Lagarde's hawkish signals suggesting the monetary easing cycle may be approaching its conclusion. The stance prompted traders to dial back expectations for further rate are also monitoring whether the public spat between Trump and Tesla CEO Elon Musk could spill over into broader markets."Comments from Musk yesterday about Trump tariffs, putting the U.S. in recession in the second half of this year combined with weak data this week is causing investors to sit out for the time-being," said Fiona Cincotta, senior market analyst at City Friday, the financial sector emerged as the standout performer, propelled by UBS , which rose 3.8% after Swiss authorities proposed more stringent rules that could require an additional $26 billion in core capital reserves for the banking other stocks, Dassault Systemes fell 1.2% after the French software company extended the target period of its medium-term earnings per share forecast by one fell 6.2%, placing it among the worst performers on the STOXX 600, after Exane BNP Paribas downgraded the stock to "underperform" from "neutral".On the macroeconomic front, German exports and industrial production contracted more severely than anticipated in April, as U.S. demand faltered following months of accelerated purchasing activity driven by tariff the Channel, British housing prices experienced a steeper-than-expected decline in May.
