European Stocks Lack Direction
Major bourses in Europe lack direction on Tuesday, with both the STOXX 50 and the STOXX 600 trading around the flatline, as traders remained cautious amid ongoing trade war concerns.
President Donald Trump signed an executive order imposing a 25% tariff on steel and aluminum imports, reaffirming earlier announcements and confirming no exceptions or exemptions, although he later indicated he might exempt Australia from the steel tariffs.
Basic resources and travel and leisure were the worst performing sectors while food and beverages and oil and gas outperformed. Meanwhile, the earnings season continues, with shares of Kering surging over 5% despite a 12% drop in Q4 revenue, as the company's CEO stated that the luxury group has now reached a point of "stabilization". BP shares edged down 0.1% after posting a sharp drop in fourth-quarter profit on weaker refining margins. UniCredit lost almost 4% after forecasting a moderate decline in its 2025 net interest margin.
Source: Trading Economics
