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Indonesia News Portal for Traders | Financial & Business Updates

10 February 2025 15:22  |

European Stocks Extend Longest Weekly Win Streak Since March

European stocks advanced as corporate earnings were set to increase more than analysts expected, while investors monitored the latest tariff moves from US President Donald Trump on steel and aluminum.

The Stoxx Europe 600 Index rose 0.3% by 8:07 a.m. in London, extending gains into an eighth consecutive week — its longest streak since March 2024. Real estate and technology sectors outperformed, while basic resources were the biggest laggards.

Mining stocks dropped 0.4% as Trump shared plans to levy 25% tariffs on all imports of steel and aluminum into the US. BP Plc jumped nearly 6% as a Bloomberg News report said Elliott Investment Management had built a significant stake in the British energy giant, typically the first step to successfully push for change at many other big public companies.

European stocks have started the year on a positive note, posting a record outperformance versus the US S&P 500 in dollar terms. However, market strategists are warning of more volatility as Trump announces further tariffs. Geopolitics including German elections and a potential cease-fire in Ukraine are also in focus.

Source: Bloomberg

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