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Trade Outlooks Blunt European Bourses Midday
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Last updated: 03/28/2025 07:49:30
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Last updated: 03/28/2025 07:49:30
07:49 AM EDT, 03/28/2025 (MT Newswires) -- European bourses tracked moderately lower midday Friday as traders mulled the Trump administration's announcement of 25% tariffs for autos, and possible additional reciprocal import levies expected next week.
Food and retail stocks gained, while oil and tech issues lagged.
Investors also eyed Wall Street futures mildly signaling red, but lower closes overnight on Asian exchanges on international trade concerns.
In economic news, retail sales in the UK rose by 2.2% in February on year, reported the Office for National Statistics.
The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session.
The Stoxx Europe 600 Technology Index was off 0.8%, and the Stoxx 600 Banks Index lost 0.8%.
The Stoxx Europe 600 Oil and Gas Index was off 0.2%, but the Stoxx Europe 600 Food and Beverage Index inclined 0.5%.
The REITE, a European REIT index, fell 0.5%, and the Stoxx Europe 600 Retail Index inclined 2.1%.
On the national market indexes, Germany's DAX was down 0.6%, and the FTSE 100 in London was up 0.1%. The CAC 40 in Paris was off 0.6%, and Spain's IBEX 35 lost 0.5%.
Yields on benchmark 10-year German bonds were lower, near 2.73%.
Front-month North Sea Brent crude-oil futures were down 0.3% at $73.15 per barrel.
The Euro Stoxx 50 volatility index was up 3.1% at 19.61, indicating marginally below-average volatility for European stock markets in the next 30 days, a positive signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.
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