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Looming US Tariffs Weigh on European Bourse Midday
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Last updated: 04/02/2025 07:41:17
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Last updated: 04/02/2025 07:41:17
07:41 AM EDT, 04/02/2025 (MT Newswires) -- European bourses tracked moderately lower midday Wednesday as traders awaited Trump Administration clarity on proposed reciprocal tariffs.
President Trump is scheduled to unveil his latest import levy plans at a 4 pm ET press event at the White House.
Food and retail stocks edged upwards midday in Europe, while bank and tech issues lagged.
Investors also eyed Wall Street futures signaling red, and mixed and muted closes overnight on Asian exchanges.
The pan-continental Stoxx Europe 600 Index was off 0.8% mid-session.
The Stoxx Europe 600 Technology Index was off 0.7%, and the Stoxx 600 Banks Index lost 0.9%.
The Stoxx Europe 600 Oil and Gas Index was off 0.3%, but the Stoxx 600 Europe Food and Beverage Index inclined 0.3%.
The REITE, a European REIT index, fell 0.6%, but the Stoxx Europe 600 Retail Index inclined 0.2%.
On the national market indexes, Germany's DAX was down 1.3%, and the FTSE 100 in London was down 0.7%. The CAC 40 in Paris was off 0.6%, and Spain's IBEX 35 was down 0.3%.
Yields on benchmark 10-year German bonds were lower, near 2.66%.
Front-month North Sea Brent crude-oil futures were down 0.4% to $74.16 per barrel.
The Euro Stoxx 50 volatility index was down 4.8% to 21.09, still indicating mildly above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.
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