European shares increased because investors bought sauce, ignoring the threat of Trump tariffs
European shares extend the profits on Wednesday when investors buy new market weaknesses, getting rid of the new US tariff threats and digesting the batch of the company’s revenue mixture.
The SXXP Pan-European Stoxx 600 index rose 0.2%, at 0835 GMT, up for the third session in a row after touching the lowest level of five weeks on Friday.
“The last two days have only been a response to weak US labor market data that has increased expectations to cut federal reserve,” said European European Strategy Expert American Bank, Andreas Bruuckner.
“The European equity market is very sensitive to swings in the US market and basically that’s what we have seen.”
Blue-chip German Dax Dax and CAC 40 PX1 France each rose 0.3% and 0.4%.
The SMI SMI SMI Benchmark ups and down 0.3%, with President Karin Keller-Sutter will meet with US Secretary Marco Rubio, when Switzerland seeks to negotiate 39% tariffs scheduled to take effect on Thursday.
Glencore Glen fell 3.4% after the British miners reported a decrease in the first half of the core profit due to weaker coal prices and lower copper production.
Siemens Energy ENR rises slightly after the company says they expect to reach the top end of the estimated outlook growth of 2025.
European Healthcare Stocks (.SXDP) fell 1.1%, with Novo Nordisk Novo_B slightly down after the Danish drug maker maintains prospects a full year, only a few days after cutting prospects for sales 2025.
Wegovy’s maker said he would cut fees after losing nearly $ 95 billion in the market value last week.
Adding to the headwinds of this sector, US President Donald Trump said on Tuesday that Washington would initially place a “small tariff” in pharmaceutical imports, eventually increasing it to 250%.
Novartis Novn and Roche Ro each declined 2.1% and 1.4%.
Trump also said he would announce the tariff at the semiconductor and chip in “next week or more.”
Data shows that the Industrial Order in June Germany unexpectedly fell, decreased during the second month in a row, highlighting damage due to an increase in export tariffs to the US
Beiersdorf IDX fell more than 10.2% ranking as the top dekliner after German consumers Good Maker cut the prospects for the growth of their annual organic sales.
Coca-Cola HBC CCH dropped 9.2% even though the voltage estimated the growth of the annual organic income at the top of the expected range.
HISCOX HSX is the top winner in the index, gaining 7.8% after reporting the increase in the first round insurance premium supported by the growth of its retail business.
Source: Reuters
