Germany
Adidas’s German headquarters raided in connection with tax investigation
The “Arena” office building at the headquarters of the sporting goods manufacturer adidas AG is reflected in an artificial lake. Daniel Karmann | Picture Alliance | Getty Images Adidas’s German headquarters were raided on Tuesday in connection with a years-long tax investigation, the company confirmed to CNBC in a statement. Authorities are investigating customs and […]
Read More
European markets open lower as positive sentiment vanishes
Germany confirms harmonized inflation at 2.4% for November Germany issued a final reading of its November inflation data on Tuesday, confirming the preliminary harmonized print of a 2.4% year-on-year increase, according to state news agency Destatis. It noted that the November inflation was exacerbated by price hikes in the services sector, but benefitted from a […]
Read More
European markets higher as new trading week kicks off; Gucci-owner Kering rises over 4%
European markets opened higher on Monday as the new trading week kicked off, with investors weighing geopolitical turmoil. The pan-European Stoxx 600 was up by around 0.3% at 8:34 a.m. London time, with most major regional bourses and sectors trading in positive territory. Traders will be assessing geopolitical upheaval in the Middle East after the […]
Read More
Contentious budget plans are wreaking political havoc across Europe
France’s Prime Minister Michel Barnier ponders during a session of questions to the government at the National Assembly in Paris, on December 3, 2024. Julien De Rosa | Afp | Getty Images The French government once again stands on the brink of collapse, after Prime Minister Michel Barnier refused to bend to demands from right […]
Read More
Stellantis shares slide 8% after CEO departure as broader European markets decline
Euro slides with French government on brink The euro tumbled 0.72% against the U.S. dollar, trading at $1.0497 at 8:40 a.m. in London, as traders monitored political volatility in France. The odds that the fragile government led by Michel Barnier will be toppled in a no-confidence vote by the far-right and a left-wing coalition appeared […]
Read More
How to ‘tariff-hedge’ your European portfolio, according to TS Lombard
As Europe faces the prospect of tariffs on its exports to the United States, TS Lombard has advised investors in the region on how to “tariff-hedge” their portfolios. U.S. President-elect Donald Trump warned ahead of his election win that he would introduce a blanket tariff of up to 20% on all imports . This week […]
Read More
European markets head for higher open; U.S. markets are closed for Thanksgiving
UK consumer confidence ‘remains weak,’ retail trade group says Shoppers visit York Christmas Market ahead of Black Friday on November 25, 2024 in York, England. Ian Forsyth | Getty Images News | Getty Images U.K. consumer confidence remains weak in the aftermath of the Labour government’s landmark first budget in October, according to a November […]
Read More
‘Europe’s Detroit’ built a thriving car industry. Trump tariffs now threaten to unravel its success
Skoda Kodiaq automobiles on the production line at the Volkswagen AG plant in Bratislava, Slovakia, on Friday, Dec. 1, 2023. Bloomberg | Bloomberg | Getty Images A small landlocked country in the heart of Europe appears to be uniquely exposed to President-elect Donald Trump’s “America First” economic agenda. Nicknamed the “Detroit of Europe” due to […]
Read More
Europe markets open lower as global rally stutters; investors digest Trump tariff implications
European stocks opened lower Tuesday as investors assess the global implications of U.S. President-elect Donald Trump’s plans to hike tariffs on China, Mexico and Canada. The regional Stoxx 600 was down 0.61% at 8:10 a.m. London time as all sectors bar telecoms retreated. Autos led losses, down 2.1%. The index had ended in the green for a […]
Read More
European stocks close higher as global markets rally; UniCredit falls 5% after making offer for Banco BPM
European markets close slightly higher European stocks closed slightly higher Monday, buoyed by positive sentiment stateside. The pan-European Stoxx 600 provisionally ended 0.14% higher, with most sectors and major bourses in the green. Household goods and mining stocks led gains, both adding 1.21%, while oil and gas stocks fell 1%. — Karen Gilchrist Dow and […]
Read More