European Markets Close Mostly Lower

On Tuesday, European markets experienced a downturn, primarily due to declines in the defense, technology, and chemicals sectors. This downward trend was further exacerbated by disappointing earnings reports.

Trade Tensions Escalate

Market sentiment remains fragile as trade tensions escalate. This follows US President Donald Trump's announcement of a 30% tariff on EU goods, effective August 1. In response, the European Union is reportedly preparing to utilize its Anti-Coercion Instrument, a move that could further strain trade relations between the two economies.

Market Performance Highlights

The DAX saw a decline of 1.05%, with Sartorius AG dropping 4.79%. The European Stoxx 50 fell by 1.01%, led by a 3.65% loss in Infineon. The CAC 40 decreased by 0.69%, with Safran down 2.68%. Conversely, the London FTSE 100 edged up slightly by 0.13%, buoyed by a 5.33% surge in Compass.

Currency Movements

At 5:28 pm CET, the euro appreciated by 0.34% against the dollar, trading at 1.17340. Simultaneously, the pound gained 0.10% against the greenback, reaching 1.35073.