General market situation:
European stocks are extending their declines, which began after the announcement of tariff changes on car imports to the US. Investors are now anxiously awaiting April 2, which is expected to bring further tariff changes.
Wednesday is to be the so-called “Liberation Day in America”, which President Trump has been talking about for weeks and on which he intends to announce a package of large-scale tariff changes. The announced changes in car tariffs may therefore be just a foretaste of further modifications. Some even believe that this day may go down in history as the moment that marks the end of an era lasting since World War II: the era of largely liberal global trade.
The German DAX is currently losing 1.9%, while the French CAC40 is down 1.80%. The Polish market is doing poorly, with declines reaching 2.1%. The most important macroeconomic data for today are the German CPI data, which will be published in 15 minutes.
Distribution of today’s rates of return for European companies. Source: xStation
The German DE40 index is losing 1.90% today intraday and is testing a key technical support point, set by the 50-day EMA (blue line on the chart) and the local minimum of consolidation from the turn of February and March. The key element in analyzing further potential index behavior may be the closing element of today’s session and whether it will run below/above the previously mentioned support zone. Source: xStation
News:
For the markets, the main topic driving market volatility is still the tariffs imposed on the automotive sector. Although specific information on this topic appeared last week, it is still this sector that weighs the most on European stock exchanges.
UniCredit (UCG.IT), the second largest bank in Italy, has received approval from the European Central Bank for an offer to buy smaller rival Banco BPM (BAMI.IT) for EUR 14 billion.
German company DHL (DHL.DE) is acquiring US logistics company Cryopdp.
RWE (RWE.DE) is selling minority stakes in German and Danish offshore wind farms for €1.4 billion. The company’s shares are currently down 0.5% amid a broad-market sell-off.
More news from DAX companies. Source: Bloomberg Financial LP
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