LONDON — European markets fell on Monday as investors continued to monitor developments in the Middle East and the potential for a flare-up in transatlantic trade tensions.
pan-european Stocks 600 In London, the index was down 0.4% by 1:45 p.m. (8:45 a.m. ET), reversing early morning gains. The major stock exchanges in Frankfurt, Paris, and Milan were all in the red, and local stocks were also significantly negative. In London, FTSE100 Closed due to the UK’s early spring bank holiday.
nokia rose 7.7% in early afternoon trading, pushing the Finnish telecom company’s gain since the start of the year to more than 100%. inseego announced Thursday that it will acquire Nokia’s fixed wireless access business.
But European automakers fell about 1% after U.S. President Donald Trump announced on Friday that he would raise tariffs on cars and trucks from the European Union to 25%. The European Commission said it would keep its options open regarding its response.
auto parts manufacturers continental It fell 4.2% to the bottom of the Stoxx 600. mercedes benz 2.4% reduction, volkswagen It traded 1.5% lower.
The threat of new tariffs comes despite a Supreme Court ruling in February that rejected most of President Trump’s tariff policies.
Meanwhile, President Trump also unveiled a new plan to “liberate” ships stuck in the Strait of Hormuz. The plan, dubbed “Project Freedom,” could include 15,000 troops, a guided missile destroyer and 100 aircraft guiding commercial ships through the vital seaway.
Britain’s Maritime Trade Service reported that a ship was struck by a projectile north of the United Arab Emirates city of Fujairah early on Monday.
Oil prices rose slightly, with global benchmark Brent crude rising 2.2% to $110.57 per barrel and West Texas Intermediate rising 1.3% to $102.94.
