European Shares Edge Higher Despite Trump's Tariff Threats

(RTTNews) - European stocks ticked higher on Wednesday despite weak factory orders data from Germany and fresh tariff threats from U.S. President Donald Trump on pharma and chips.

German new factory orders fell 1.0 percent 1.0 percent month-on-month in June, confounding expectations for an increase of 1.0 percent, according to figures from Destatis. The fall was also sharper than the 0.8 percent decrease posted in May.

The pan European STOXX 600 edged up by 0.2 percent to 542.53, extending gains for a third consecutive session after touching a five-week low on Friday.

The German DAX and France's CAC 40 both were up around 0.4 percent while the U.K.'s FTSE 100 added 0.2 percent.

ABN AMRO shares slumped 7.5 percent. The Dutch lender announced a smaller-than-expected share buyback program after reporting weaker lending income in the second quarter.

Miner and trader Glencore tumbled 3.1 percent in London after reporting a 14 percent fall in first half adjusted core profit and scrapping plans to move its primary listing away from London.

Asset management and insurance giant Legal & General fell 2.5 percent despite reporting stronger-than-expected first-half results.

German landlord Vonovia surged 4 percent as it reported 11 percent growth in first-half earnings and raised its EBT guidance for 2025.

Wind turbine maker Nordex Group rallied 2.6 percent as it secured on order for 51.7 MW from TEUT Energieprojekte GmbH in Brandenburg, Germany.

Healthcare group Fresenius added 1.6 percent after posting strong Q2 results and raising its full-year revenue guidance.

Pharmaceutical and agricultural giant Bayer lost 4.2 percent after widening its Q2 loss amid challenging market conditions.

Online retailing giant Zalando plummeted 4.6 percent despite delivering "strong" growth in sales and profits during the second quarter and raising its 2025 guidance.

Lender Commerzbank dropped 1 percent after posting a quarterly profit drop.