European Shares Mixed As Investors Weigh Trump Tariff Impact
(RTTNews) - European stocks were mixed on Friday after the Trump administration's higher tariff rates on trading partners took effect from midnight and Moscow confirmed Russian President Vladimir Putin and U.S. President Donald Trump are preparing to meet in the coming days, raising hopes of a ceasefire in the Ukraine war.
In economic news, France's unemployment rate held steady as expected in the June quarter, the statistical office INSEE said.
The jobless rate stood at 7.5 percent in the second quarter, the same as in the previous quarter. The number of unemployed increased by 29,000 compared to the March quarter, to 2.4 million.
The pan-European STOXX 600 was up 0.1 percent after rising 0.9 percent in the previous session. France's CAC 40 added 0.2 percent while the German DAX slipped 0.3 percent.
The U.K.'s FTSE 100 was marginally higher after falling 0.7 percent on Thursday as the Bank of England cut its benchmark interest rate for the fifth time in a year and hinted that the easing cycle is nearing its end.
In corporate news, British drug major GSK rose over 1 percent on news it will receive $370 million as part of a U.S. patent settlement.
German property firm Deutsche Wohnen was moving higher after posting a narrower first-half loss.
Reinsurer Munich Re plunged 7 percent after cutting its 2025 insurance revenue forecast.
Dutch insurer and asset manager NN Group rallied 2 percent as first-half earnings beat market expectations.
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