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CNBC
7 hours ago
- Business
- CNBC
European stocks set to open higher, brushing off Trump's unwieldy tariffs regime
St James's Park, London, on July 3, 2025. Jeff Moore - Pa Images | Pa Images | Getty Images Good morning from a sunny and summery London, and welcome to CNBC's live blog covering all the action and business news in European financial markets on Thursday. Futures data from IG suggests regional markets will open higher, with London's FTSE 100 expected to open 34 points higher at 8,902, Germany's DAX up 60 points at 24,580 and France's CAC 40 up 19 points at 7,897. Italy's FTSE MIB is seen opening 60 points higher at 40,934. Global markets have been focused on one thing this week: the increasingly unwieldy U.S. trade tariffs regime. On Wednesday, U.S. President Donald Trump sent letters dictating new U.S. tariff rates on at least seven more countries' imports, having already sent letters to 14 other countries earlier this week that laid out punitive duties. He also announced late Wednesday a 50% tariff on Brazil partly in retaliation against the current trial against former Brazilian President Jair Bolsonaro for his role in an alleged attempt to overturn the country's 2022 election results. Trump on Tuesday announced a 50% levy on copper imports, which will begin on Aug.1, and signaled that more sector-specific tariffs will come soon. He also threatened to impose tariffs of up to 200% on pharmaceutical exports into the U.S., but said that he will "give people about a year, year and a half" until the duties go into effect. — Holly Ellyatt President Donald Trump on Wednesday sent letters dictating new U.S. tariff rates on at least seven more countries' imports, having sent similar letters to 14 other nations earlier this week. The latest letters, revealed by Trump via Truth Social screenshots, were sent to the leaders of the Philippines, Brunei, Moldova, Algeria, Iraq, Libya and Sri Lanka. The letters note that the U.S. will "perhaps" consider adjusting the new duties, "depending on our relationship with your Country." This chart shows the old and new tariff rates, which will take effect on Aug. 1, and which countries are affected. — Holly Ellyatt, Kevin Breuninger
CNBC
a day ago
- Business
- CNBC
European stocks set to open in mixed territory as markets digest Trump tariff comments
The City of London skyline at sunset. Gary Yeowell | Digitalvision | Getty Images Good morning from London and welcome to CNBC's live blog covering all the action and business news in European financial markets on Wednesday. Futures data from IG suggests regional markets will open in mixed territory, with London's FTSE 100 expected to open 0.2% higher, Germany's DAX 0.1% higher and France's CAC 40 up 0.5%higher. Futures tied to Italy's FTSE MIB were flat this morning. Global markets have been seesawing this week, as traders digest the latest trade tariff news. Overnight, Asia-Pacific markets were mixed, while U.S. futures were little changed, after U.S. President Donald Trump ruled out a deadline extension on steep tariffs on 14 countries that are due take effect on Aug. 1. Trump on Tuesday also announced a 50% levy on copper imports and signaled that more sector-specific tariffs will come soon. He also threatened to impose tariffs of up to 200% on pharmaceutical exports into the U.S., but said that he will "give people about a year, year and a half" until the duties go into effect. — Holly Ellyatt Anton Petrus | Moment | Getty Images Markets will be keeping an eye on comments from the OPEC seminar in Vienna on Wednesday, as well as all the latest tech news from the RAISE Summit in Paris, where the outlook for artificial intelligence is a key focus. Traders are also assessing the likelihood of more trade deals between the U.S. and partners as the initial deadline for reduced tariffs, Wednesday, is reached. The U.S. has already sent 14 countries "letters" telling them what trade duties they will be hit with on a later date, Aug. 1. Investors in Europe are awaiting a U.S.-EU trade deal, with speculation that an agreement could be imminent. There are no major earnings or data releases Wednesday. — Holly Ellyatt
CNBC
03-07-2025
- Business
- CNBC
European stocks set to open higher as traders monitor UK turbulence, await U.S. jobs report
Alexander Spatari | Moment | Getty Images Welcome to CNBC's live blog covering all the action and business news in European financial markets on Thursday. Futures data from IG suggests European markets will open higher, with London's FTSE 100 looking set to open 0.3% higher at 8,799, Germany's DAX 0.2% higher at 23,836, France's CAC 40 also up 0.2% at 7,757 and Italy's FTSE MIB up 0.15% at 39,926. The positive start in Europe comes after a more mixed day on Wednesday, particularly for the U.K. where bond prices, as well as the FTSE, tumbled sharply. Those moves came after U.K. Finance Minister Rachel Reeves appeared visibly upset in Parliament on Wednesday as pressure mounted on the government over welfare reforms. The government said Reeves was dealing with a "personal matter" and Prime Minister Keir Starmer later said she has his full support. U.S. stock futures were little changed on Wednesday night as traders braced for June's nonfarm payrolls data. Economists polled by Dow Jones expect that the economy added 110,000 jobs last month. That compares with May's gain of 139,000. Economists also see the unemployment rate inching higher. In the Asia-Pacific region overnight, Vietnamese stocks climbed to their highest in over three years as investors awaited further details on the U.S.-Vietnam trade agreement that President Donald Trump announced Wednesday. The U.S. is imposing a 20% tariff on goods imported from the Southeast Asian nation, while the latter will impose "ZERO Tariff," Trump said on Truth Social. — Holly Ellyatt Jobseekers talk to recruiters during the New York Public Library's annual Bronx Job Fair & Expo at the Bronx Library Center in the Bronx borough of New York, on Sept. 6, 2024. Yuki Iwamura | Bloomberg | Getty Images It's a reasonably quiet day for data and earnings in Europe on Thursday, although Spain and Italy's latest purchasing managers' index data on business activity will be released. More global market attention will be on the U.S. as June nonfarm payrolls data is released later in the U.S. trading session. Economists polled by Dow Jones expect that the economy added 110,000 jobs last month. That compares with May's gain of 139,000. Economists also see the unemployment rate inching higher to 4.3%, up from 4.2% in May. A report from payrolls processing firm ADP released Wednesday morning showed that private sector hiring fell by 33,000 last month. — Holly Ellyatt. Lisa Kailai Han
CNBC
02-07-2025
- Business
- CNBC
European markets set to open higher as traders assess global trade, economic outlook
General view of the City of London skyline, the capital's financial district, in October. Sopa Images | Lightrocket | Getty Images Welcome to CNBC's live blog covering all the action in European financial markets on Wednesday, as well as the latest regional and global business news, data and earnings. Futures data from IG suggests European markets will open higher, with London's FTSE looking set to open 0.2% higher at 8,804, Germany's DAX 0.4% higher at 23,803, France's CAC 40 up 0.5% at 7,702 and Italy's FTSE MIB up 0.6% at 39,841. The positive start expected in Europe comes as global markets assess the status of trade talks and the prospect of deals before U.S. President Donald Trump's 90-day reprieve from higher import duties expires on July 9. Traders are also digesting the latest comments from U.S. Federal Reserve Chair Jerome Powell, who said the central bank would have already cut interest rates if it weren't for U.S. President Donald Trump's tariff initiatives. Trump has repeatedly criticized Powell for the central bank's rate policy. U.S. stock futures were little changed overnight, after investors began the second half with a reduced appetite for technology stocks. Singapore stocks hit a record high overnight amid mixed trading in the Asia-Pacific region. — Holly Ellyatt European Central Bank President Christine Lagarde arriving for the morning session at the ECB Forum on Central Banking 2025 in Penha Longa Resort on July 1 in Sintra, Portugal. Horacio Villalobos | Corbis News | Getty Images European traders will be keeping an eye on more action from the European Central Bank forum in Sintra, Portugal, on Wednesday, with ECB President Christine Lagarde due to address policymakers today. CNBC has interviewed a number of central bank governors and officials at the forum, including ECB Chief Economist Philip Lane, Portugal's central bank Governor Mario Centeno and q It's widely expected that the ECB will lower its key rate, the deposit facility rate, in September, after data released Tuesday showed the euro zone inflation rate hit the central bank's 2% target. On the data front, unemployment figures are due from Spain, Italy and the wider European region. There are no major earnings reports in Europe on Wednesday. — Holly Ellyatt
CNBC
01-07-2025
- Business
- CNBC
European stocks to open flat to higher as investors survey the trade talks, tariff landscape
General view of the City of London skyline, the capital's financial district, in October. Sopa Images | Lightrocket | Getty Images Welcome to CNBC's live blog covering all the action in European financial markets on Tuesday, as well as the latest regional and global business news, data and earnings. Futures data from IG suggests a generally positive start for European markets, with London's FTSE looking set to open unchanged at 8,774, Germany's DAX up 0.2% at 23,955, France's CAC 40 up a notch at 7,679 and Italy's FTSE MIB up slightly at 39,865. The generally positive start for Europe comes as global investors begin to assess the trade talks and the tariff landscape as U.S. President Donald Trump's 90-day reprieve from higher import duties is set to expire next week. Asia-Pacific markets traded mixed overnight as investors assessed the record gains on Wall Street and the prospects for trade deals, while U.S. equity futures were little changed early Tuesday after the S&P 500 notched another record to close out a stunning quarter. U.S. Treasury Secretary Scott Bessent said Monday that there are "countries that are negotiating in good faith." However, he added that tariffs could still "spring back" to the levels announced on April 2 "if we can't get across the line because they are being recalcitrant." Canada walked back its digital services tax in an attempt to facilitate trade negotiations with the United States. Ottawa's move to rescind the new levy comes after President Donald Trump said on Friday that he would be "terminating ALL discussions on Trade with Canada." — Holly Ellyatt A Tante Enso store in Wörlitz, Germany. Picture Alliance | Picture Alliance | Getty Images The big data release in Europe on Tuesday is the latest preliminary inflation data from the euro zone. Analysts expect the rate to have hit 2% in the year to June, which would be in line with the European Central Bank's target. Earnings are set to come from Sodexo and Sainsbury's. Other data releases include German unemployment figures and U.K. Nationwide house prices data. CNBC continues coverage of the ECB's forum in Sintra, Portugal, where central bankers have gathered this week. — Holly Ellyatt
