European shares set for weekly loss on heightened trade tensions

European shares held dependable connected Friday but were connected way for a play autumn arsenic escalating planetary trade tensions amplified concerns astir an economic slowdown.

The pan-European STOXX 600 was up 0.09% arsenic of 0810 GMT. It ended little connected Thursday aft the U.S. president threatened to slap a 200% tariff connected vino and different intoxicant from the European Union successful effect to the bloc's levies connected U.S. whiskey.

The benchmark is down implicit 2% for the week truthful far.

President Donald Trump's flip-flops connected tariffs person roiled planetary markets, rattling investors and consumers alike.

BMW fell 3.7% aft the carmaker's nett net slumped by implicit a 3rd successful 2024 to 7.68 cardinal euros ($8.32 billion).

The scale of automakers shed 1.3%, with carmakers Renault falling 1.4%, Volkswagen declining 1% and Stellantis losing 1.2%.

Universal Music Group (UMG) slid 10.5% aft Bill Ackman's Pershing Square chopped its involvement successful the company.

Kering slumped 9.5% aft its Italian luxury marque Gucci appointed Georgian decorator Demna arsenic its creator director.

Daimler Truck jumped 4% arsenic the truckmaker forecast its 2025 adjusted operating nett to emergence by 5%-15% and launched a cost-cutting programme successful Europe aft the portion underperformed past year.