European shares tumble as trade, geopolitical tensions mount
The pan-European STOXX 600 (.STOXX), opens new tab was down 0.4% at 549.41 points at 0707 GMT, while most regional bourses were also in the red.
U.S. President Donald Trump said on Wednesday that he was willing to extend the deadline for trade talks but it was not likely necessary as the U.S. will send offer letters to countries in a week or so.
However, markets were a little concerned about the European Union being able to clinch a deal before Trump's July 8 deadline - when the tariff pause expires.
Geopolitical worries added more caution to markets already navigating U.S. tariff-driven uncertainty after trade talks with China did not offer a solution to de-escalate longstanding tensions.
U.S. personnel were being moved out of the Middle East because "it could be a dangerous place" amid rising tensions with Iran, Trump said on Wednesday.
In the market, travel and leisure stocks (.SXTP), opens new tab were the worst hit, down 1.7%, while industrial miners (.SXPP), opens new tab fell 1.1%.
Among stocks, BE Semiconductor Industries (BESI) (BESI.AS), opens new tab jumped 7.7% after raising its long-term financial targets ahead of its investor day.
Tesco (TSCO.L), opens new tab gained 1.3% after Britain's biggest food retailer's domestic sales growth accelerated in its first quarter.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
26 minutes ago
- Reuters
Brewer Heineken's first-half profits beat forecasts
LONDON, July 28 (Reuters) - Dutch brewer Heineken ( opens new tab on Monday reported a 7.4% rise in half-year organic operating profit, ahead of analyst expectations of 7%.
Reuters
26 minutes ago
- Reuters
Forvia's cost and cash discipline drives near 8% rise in H1 core profit
July 28 (Reuters) - France-based car parts supplier Forvia ( opens new tab reported a 7.8% rise in its half-year core profit on Monday, led by cost cuts. Forvia's earnings before interest, taxes, depreciation and amortization (EBITDA) grew to 1.76 billion euros ($2.07 billion)in the first half of 2025, from 1.64 billion a year earlier. It said tariffs had no material impact thanks to effective counter measures, including strict cost and cash discipline, but they had delayed tenders especially in North America. Forvia booked new orders worth 14 billion euros in the first half, compared to 15 billion a year ago. It still confirmed its full-year 2025 guidance. Stellantis ( opens new tab announced mid-July the termination of its hydrogen fuel cell technology development program, impacting its SYMBIO joint venture with Forvia and Michelin ( opens new tab that relies on the carmaker for more than 80% of its business. "Forvia booked a non-cash depreciation of the financial assets related to the joint venture, consolidated under equity method, for 136 million euros," the group said in a statement. ($1 = 0.8511 euros)
BBC News
26 minutes ago
- BBC News
Blackheath tunnel reopens after 10-week repair closure
A rail tunnel in south-east London which is prone to leaks and water damage has reopened after a 10-week closure for trains between Charlton and Blackheath have resumed using the mile-long Blackheath tunnel (about 1.5km), after being diverted via Greenwich during the second such closure within a Rail said the £10m repair work saw thousands of bricks replaced, new lining added and drainage systems Davidson, Network Rail's chief operating officer for south eastern railway, said the programme was "groundbreaking" and reliability would be increased by the strengthening and waterproofing work. The tunnel, which first opened in 1849, had been closed since 27 Davidson added: "Savings from this approach are estimated to be around £10m and this can be reinvested across the network to deliver more improvements that will keep passengers moving."Last summer, engineers cleaned soot from the tunnel lining, carried out detailed surveys and replaced thousands of bricks to stop water getting in. This year a new tunnel lining will be installed, drainage systems rebuilt, and essential track work completed - including the removal of the waterlogged sections known as wet beds.
