Paris/London/Zurich (dpa -AfX) – Europe’s most important stock markets further gave in on Friday. Strong losses on Wall Street and continued falling US futures showed the way. The EuroStoxx 50 dropped by 2.4 percent to 4,990.66 points at noon. Outside the euro area, it also looked dreary. The Swiss SMI fell by 2.74 percent to 11,935.88 points. The British FTSE 100 went down by 1.77 percent to 8,324.93 points.
This kept concern for the markets because of the US customs policy. “Trump’s new customs strike destabilizes the statics of globalization as a reliable foundation of the global economy so far,” emphasized capital market strategist Robert Halver from Baader Bank and Castle: “This is active wealth destruction.”
Improvement is currently not in sight. “As long as customs threats dominate the live tickers and disassembles, the economic uncertainty will remain intact and will have to expect stock markets with increased price fluctuations,” predicted Halver.
In addition, the upcoming US labor market report in the afternoon made the market participants remain careful. The Helaba economists expect a solid figure. The report should not have any major effects on the interest reduction expectations for the United States.
The development of the individual sectors was similar the day before. Banks were under pressure again and thus followed the international guidelines. The prospects for an economic delle gave the courses of values such as BNP Paribas and Societe Generale (Société Générale (Societe Generals)), which have increased sharply since the beginning of the year.
The economic-sensitive raw material and oil values were also one of the losers. BP gave up by 2.4 percent. The administrative head of the British mineral oil company, Helge Lund, had announced his resignation. It remains to be seen whether Lunds will lead to major changes in strategy and also in management, it said by the experts from the Canadian bank RBC. Generali (Assicurazioni Generali) lost an above -average 5.8 percent in the insurance sector. The stock reacted to a gradation by Morgan Stanley.
The defensive values were better. The food sector was at the top of the individual sectors. Danone climbed by 2.2 percent against the market and marked a five -year high. A high class by Morgan Stanley flashed the value. Other titles of the sector like Unilever also stayed well. Only Nestle (Nestlé) did not quite come with slight losses after Morgan Stanley graduated from the stock.
Meanwhile, pharmaceutical values were unable to make the latest profits. According to US President Donald Trump, the pharmaceutical and semiconductor industry will soon also have to be prepared for sturdy tariffs. These would be introduced soon, Trump said to journalists on board the presidential machine Air Force One./Mf/men