European Stocks Hold Steady Amid Rising Trade Tensions and Anticipation of U.S. Jobs Data
European shares remained steady as investors awaited U.S. jobs data amidst trade tensions. The STOXX 600 held at 551.9 points. President Trump increased tariffs on steel and aluminum, escalating concerns. ECB rate cut expectations were dampened by President Lagarde's comments. Adidas and Puma shares fell after Lululemon's profit warning.
European shares showed little movement on Friday as investors remained cautious ahead of key U.S. jobs data, compounded by ongoing trade tensions.
The pan-European STOXX 600 index held firm at 551.9 points, poised for a potential second weekly gain, contingent on momentum sustained by the upcoming release of U.S. non-farm payroll figures, which are pivotal for Federal Reserve considerations amid trade challenges.
President Donald Trump's decision to double tariffs on steel and aluminum imports earlier escalated trade disputes. Meanwhile, the ECB's rate cut news was overshadowed by President Christine Lagarde's remarks that hinted at the cessation of the bank's easing policy, affecting market expectations. Notably, shares of Adidas and Puma declined as Lululemon Athletica adjusted its annual profit forecast downward.
(With inputs from agencies.)
- READ MORE ON:
- European shares
- trade tensions
- U.S. jobs data
- STOXX 600
- tariffs
- ECB
- Lagarde
- Adidas
- Puma
- Lululemon
ALSO READ
ECB's Balancing Act: Navigating Inflation and Economic Growth
Australian Exporters Eye Competitive Edge in China Amid U.S. Tariffs
EU Imposes Steep Tariffs to Secure Food Supply
Global Economy on Edge: Tariffs Stir Uncertainty
EU Tariffs Shake Up Fertiliser and Farm Produce Trade with Russia and Belarus
Google News