European Stocks Close On Mixed Note

(RTTNews) - Despite some fairly strong earnings updates, European stocks turned in a subdued performance on Friday on reports the U.S. President Donald Trump is looking to impose at least 15 to 20% tariffs on goods imported from the European Union irrespective even if a trade deal is arrived at.

The pan European Stoxx 600 edged down 0.01%. The U.K.'s FTSE 100 gained 0.22% and Germany's DAX drifted down 0.33%. France's CAC 40 crept up 0.01%, and Switzerland's SMI gained 0.18%.

Among other markets in Europe, Belgium, Czech Republic, Finland, Greece, Iceland, Norway, Poland and Russia ended higher.

Denmark, Ireland, Netherlands, Portugal and Sweden closed weak, while Spain and Turkiye edged down slightly.

In the German market, Sartorius ended down more than 2.5%. Siemens Energy, Fresenius Medical Care, Puma, Bayer, Continental and Siemens Healthineers lost 1 to 1.6%.

Salzgitter AG shares tanked more than 17% after the steel company cut its full-year guidance in the wake of a weak second quarter.

E.ON, RWE, Brenntag, Zalando and Vonovia posted moderate gains.

In the French market, Vivendi soared more than 13%.

Legrand gained about 2.7%. Kering climbed 2.6%. Pernod Ricard, Accor, Eurofins Scientific, Edenred and Veolia Environment gained 1 to 1.3%.

STMIcroElectronics tumbled more than 12%. Stellantis closed down 3.2%, while Air Liquide, Hermes International and Schneider Electric lost 1 to 1.1%.

In the UK market, Rentokil Initial, Antofagasta, Intermediate Capital Group, 3i Group and BAE Systems gained 2 to 3%.

Whitbread, Marks & Spencer, Segro, SSE, United Utilities, DCC, Coca-Cola Europacific Partners, Schroders, Anglo American Plc, Severn Trent and Coca-Cola HBC climbed 1.5 to 2%.

Mining giant BHP moved higher after reporting record annual iron ore and copper output.

BP gained some ground in positive territory. The energy major announced the sale of its US onshore wind business to LS Power, part of its $20 billion divestment plan to streamline operations and refocus on selected low-carbon assets.

GSK closed down 4.6% after a U.S. FDA advisory panel recommended against approving its blood cancer drug Blenrep.

Mondi ended nearly 3% down. Convatec Group, Informa, Croda International, Fresnillo, IAG, Entain, Relx, Airtel Africa, Centrica and Lloyds Banking Group closed with sharp to moderate losses.

Data from Destatis showed Germany's producer prices declined for the fourth straight month in June on lower energy prices. The producer price index dropped 1.3% year-on-year in June, faster than the 1.2% fall in May. This was the fourth consecutive decrease.

Month-on-month, producer prices were up 0.1% in June.

Excluding energy prices, producer prices were 1.3% higher than in the same period last year.

Eurozone construction output declined at the fastest pace in nearly two-and-a-half years in May after recovering sharply in the previous month, first estimates from Eurostat revealed.

Production in construction declined 1.7% on a monthly basis in May, reversing an upwardly revised 4.3% growth in April. Moreover, this was the quickest downturn since December 2022, when output had fallen 2.2%.

Year-on-year, the growth in construction output moderated to 2.9% from 4.7% in April.

Construction output in the EU27 declined 1.3% monthly, while it grew 2.7% annually in May.