Market Update
European Markets Plunged to Multi-Month Low as Recession Fears Dominate Sentiment
Bridgette Randall
07 Apr, 2025
London
European markets opened sharply lower in Monday's trading and extended losses of the previous week amid fears of a global recession as the U.S.-led trade war intensified.
Benchmark indexes in Frankfurt, Paris, Milan, and London plunged as much as between 7% and 4% after the European Union leaders vowed to respond to the U.S. import tax.
The base tariffs of 10% went into effect this Sunday, and China's policymakers suggested that Beijing is ready to retaliate with additional tariffs if need be.
Over the weekend, the Trump administration stepped up its defense of the import tax and added the Secretary of Treasury falsely claimed that most consumers will see very little impact of tariffs.
U.S. automobile makers are preparing to hike prices between $3,000 and $12,000 as early as next week, and food prices are already scaling higher between 15% and 30%.
In addition, U.S. home construction costs are expected to jump at least 20% after the implementation of tariffs on goods from China, the European Union, and Canada.
Closer to home, on the economic front, investors reviewed the latest updates on retail sales in the eurozone, German industrial production, and the UK home price index.
Germany's imports rose at a faster pace than exports in February, driving its trade surplus lower, according to data available from the Federal Statistical Office.
Seasonally and calendar-adjusted goods exports increased 0.1% to €131.6 billion, imports declined 4.6% to €113.8 billion, and the trade deficit shrank to €17.7 billion from €20.5 billion a year ago, respectively.
Germany's industrial production declined 4% from a year ago in February, faster than the fall of 1.6% in January, the Federal Statistical Office said on Monday.
The Halifax House Price Index in the UK rose 2.8% from a year ago in March, the slowest pace of increase since July 2024, according to Halifax and Bank of Scotland.
On a monthly basis, prices fell 0.5%, and the average home price edged down to £296,699 from £298,602.
“Our customers completed more house sales in March than in January and February combined, including the busiest single day on record,” said Amanda Bryden, Head of Mortgages at Halifax.
Retail sales in the eurozone rose at a faster annual pace of 2.8% in February from the upwardly revised 1.8% in the previous month, Eurostat reported Monday.
On a monthly basis, retail sales rose 0.3% after stagnating for three consecutive months.
Europe Indexes and Yields
The DAX index decreased by 7.3% to 19,135.79, the CAC-40 index edged lower 6.1% to 6,831.57, and the FTSE 100 index declined by 4.5% to 7,688.93.
The yield on 10-year German bonds inched lower to 2.49%, French bonds decreased to 3.26%, the UK gilts moved down to 4.39%, and Italian bonds edged lower to 3.74%.
The euro increased to $1.10; the British pound was higher at $1.29; and the U.S. dollar was lower and traded at 84.66 Swiss cents.
Brent crude decreased $2.65 to $62.95 a barrel, and the Dutch TTF natural gas was lower by €2.33 to €34.20 per MWh.
Europe Movers
Banks, defense, and mining companies led the decliners in European trading.
BNP Paribas decreased 3.5% to €66.53, Societe Generale dropped 2.9% to €33.59, UniCredit SpA declined 3.5% to €42.38, and Deutsche Bank fell 4.1% to €18.02.
Rheinmetall AG declined 3.3% to €1,237.0, Rank Group PLC decreased 2.5% to 78.20 pence, MTU Aero Engines AG dropped 6.1% to €269.0, and Hensoldt AG plunged 4.3% to €55.25.
India Movers: : Infosys, Plastiblends, Shemaroo, Havells, Hatsun Agro, Bhansali Engineering, Reliance Industries, Metro Brands
Arun Goswami
07 Apr, 2025
Mumbai
Infosys Ltd. dropped 5% to ₹1,380.60 despite the technology services and consulting company reporting a 7% increase in net income in the December quarter.
Consolidated revenue advanced to ₹41,764 crore from ₹38,821 crore, net income increased to ₹6,822 crore from ₹6,113 crore, and diluted earnings per share rose to ₹16.39 from ₹14.74 a year ago.
Plastiblends India Ltd. fell 3% to ₹176 after the color maker reported a marginal decline in revenue and a slight increase in net income in the December quarter.
Consolidated revenue declined to ₹186.4 crore from ₹199.2 crore, after-tax profit increased to ₹6.7 crore from ₹6.6 crore, and diluted earnings per share rose to ₹2.58 from ₹2.54 a year ago.
Shemaroo Entertainment Ltd. declined 4.7% to ₹95.30 after the media and entertainment conglomerate reported a marginal increase in revenue and a net loss expanded in the December quarter.
Consolidated revenue advanced to ₹167.3 crore from ₹158.1 crore, net loss expanded to ₹36.4 crore from ₹30.43 crore, and diluted losses per share advanced to ₹13.30 from ₹ 11.02 a year ago.
Havells India Ltd. decreased 2% to ₹1,441.04 after the power distribution equipment maker reported an 11% increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹4,946 crore from ₹4,456 crore, after-tax profit decreased to ₹282.8 crore from ₹287.9 crore, and diluted earnings per share fell to ₹4.51 from ₹4.59 a year ago.
Hatsun Agro Product Ltd. decreased 3.5% to ₹868 after the dairy company reported a slight increase in revenue and a 29% decline in profit in the December quarter.
Consolidated revenue advanced to ₹2,012 crore from ₹1,891.6 crore, net income declined to ₹40.9 crore from ₹57.4 crore, and diluted earnings per share fell to ₹1.84 from ₹2.58 a year ago.
Bhansali Engineering Polymers Ltd. dropped 6.2% to ₹100.45 despite the company reporting an increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹352.6 crore from ₹301.3 crore, after-tax profit increased to ₹40.83 crore from ₹40.22 crore, and diluted earnings per share rose to ₹1.64 from ₹1.62 a year ago.
Reliance Industries Ltd. declined 4.2% to ₹1,154.20 despite reporting a 12% rise in its earnings in the latest quarter.
Consolidated revenue advanced to ₹2,48,079 crore from ₹2,31,839 crore, net income rose to ₹21,804 crore from ₹19,488 crore, and diluted earnings per share increased to ₹13.70 from ₹12.76 a year ago.
Metro Brands Limited fell 5.3% to ₹1,020 after the footwear retailer reported a decline in profit in the December quarter.
Consolidated revenue increased to ₹726.3 crore from ₹651.5 crore, after-tax profit declined to ₹95.1 crore from ₹98.9 crore, and diluted earnings per share fell to ₹3.46 from ₹3.58 a year ago.
India Movers: : Infosys, Plastiblends, Shemaroo, Havells, Hatsun Agro, Bhansali Engineering, Reliance Industries, Metro Brands
Arun Goswami
07 Apr, 2025
Mumbai
Infosys Ltd. dropped 5% to ₹1,380.60 despite the technology services and consulting company reporting a 7% increase in net income in the December quarter.
Consolidated revenue advanced to ₹41,764 crore from ₹38,821 crore, net income increased to ₹6,822 crore from ₹6,113 crore, and diluted earnings per share rose to ₹16.39 from ₹14.74 a year ago.
Plastiblends India Ltd. fell 3% to ₹176 after the color maker reported a marginal decline in revenue and a slight increase in net income in the December quarter.
Consolidated revenue declined to ₹186.4 crore from ₹199.2 crore, after-tax profit increased to ₹6.7 crore from ₹6.6 crore, and diluted earnings per share rose to ₹2.58 from ₹2.54 a year ago.
Shemaroo Entertainment Ltd. declined 4.7% to ₹95.30 after the media and entertainment conglomerate reported a marginal increase in revenue and a net loss expanded in the December quarter.
Consolidated revenue advanced to ₹167.3 crore from ₹158.1 crore, net loss expanded to ₹36.4 crore from ₹30.43 crore, and diluted losses per share advanced to ₹13.30 from ₹ 11.02 a year ago.
Havells India Ltd. decreased 2% to ₹1,441.04 after the power distribution equipment maker reported an 11% increase in revenue and a marginal decline in net in the December quarter.
Consolidated revenue advanced to ₹4,946 crore from ₹4,456 crore, after-tax profit decreased to ₹282.8 crore from ₹287.9 crore, and diluted earnings per share fell to ₹4.51 from ₹4.59 a year ago.
Hatsun Agro Product Ltd. decreased 3.5% to ₹868 after the dairy company reported a slight increase in revenue and a 29% decline in profit in the December quarter.
Consolidated revenue advanced to ₹2,012 crore from ₹1,891.6 crore, net income declined to ₹40.9 crore from ₹57.4 crore, and diluted earnings per share fell to ₹1.84 from ₹2.58 a year ago.
Bhansali Engineering Polymers Ltd. dropped 6.2% to ₹100.45 despite the company reporting an increase in revenue and net income in the December quarter.
Consolidated revenue advanced to ₹352.6 crore from ₹301.3 crore, after-tax profit increased to ₹40.83 crore from ₹40.22 crore, and diluted earnings per share rose to ₹1.64 from ₹1.62 a year ago.
Reliance Industries Ltd. declined 4.2% to ₹1,154.20 despite reporting a 12% rise in its earnings in the latest quarter.
Consolidated revenue advanced to ₹2,48,079 crore from ₹2,31,839 crore, net income rose to ₹21,804 crore from ₹19,488 crore, and diluted earnings per share increased to ₹13.70 from ₹12.76 a year ago.
Metro Brands Limited fell 5.3% to ₹1,020 after the footwear retailer reported a decline in profit in the December quarter.
Consolidated revenue increased to ₹726.3 crore from ₹651.5 crore, after-tax profit declined to ₹95.1 crore from ₹98.9 crore, and diluted earnings per share fell to ₹3.46 from ₹3.58 a year ago.
Japan Markets Plunged Into Bear Zone After Monday's 7% Rout
Akira Ito
07 Apr, 2025
Tokyo
Stock market indexes in Japan plunged as the global market sell-off intensified after the Trump administration's trade war fueled global recession worries.
The Nikkei 225 Stock Average and the TOPIX index dropped 7.8% and extended 2025 losses to 20% and 17%, respectively.
Japanese markets approached bear market territory amid growing worries of a sharp decline in international trade, negatively impacting corporate earnings in Japan.
About 40% of listed companies on the Tokyo Stock Exchange rely on global exports, including significant shipments to the U.S.
Last week's brutal selling is likely to continue this week, after defiant Trump reiterated his commitment to import taxes.
In addition, more tariffs are expected to be announced this Wednesday, followed by the release of sectoral tariffs in the first week of May.
The market selloff intensified in the second week as investors digested the implications of high tariffs and braced for additional tariffs targeting countries and industries over the next five weeks.
Asian markets extended the previous week's rout, and benchmark indexes in China dropped a whopping 8%, in Hong Kong plunged 13%, in Korea and Australia fell 6%, and in India declined 4%.
European markets in early Monday traded down between 5% and 7%, and the S&P 500 futures showed a decline of 4% at the opening in New York.
World markets are likely to extend losses after the Trump administration showed no sign of backing down, and China announced its retaliatory tariff of 34% on U.S. goods starting on April 10.
Global stock market sentiment is deteriorating rapidly, and investors are seeking safety in bonds and Japanese and eurozone currencies.
The yen edged up to 145.75 against the U.S. dollar, and the yield on 10-year Japanese government bonds decreased to 1.11% as investors sought safety.
Crude oil dropped 4% to $59.70 a barrel, the level last seen in early 2021, and gold declined for the third consecutive session amid growing worries of a global recession and a sharp decline in corporate earnings.
The baseline import tax of 10%, also known as a universal tariff, went into effect on Sunday, sparking resistance from foreign suppliers and American customers and investors.
While publicly the Trump administration has put up a brave face, privately the U.S. administration has encouraged bilateral negotiations with key trading partners.
Japan Indexes and Stocks
The Nikkei 225 Stock Average plunged 7.8% to 31,136.58, and the broader TOPIX index decreased 7.9% to 31,136.58.
Tokyo Electron decreased 10% to ¥17,060.00, Advantest Corp. fell 11% to ¥5,034.00, and Disco Corp. dropped 14.6% to ¥23,600.00.
Marubeni Corp. decreased 10.7% to ¥1,958.00, Itochu Corp. declined 7% to ¥6,039.00, Sumitomo Corp. dropped 9.5% to ¥2,865.50, and Mitsui & Company fell 6.8% to ¥2,470.00.
Inpex Corp. plunged 9.6% to ¥1,699.00, and Fuji Oil Holdings dropped 7.4% to ¥2,835.00.
Japan Markets Plunged Into Bear Zone After Monday's 7% Rout
Akira Ito
07 Apr, 2025
Tokyo
Stock market indexes in Japan plunged as the global market sell-off intensified after the Trump administration's trade war fueled global recession worries.
The Nikkei 225 Stock Average and the TOPIX index dropped 7.8% and extended 2025 losses to 20% and 17%, respectively.
Japanese markets approached bear market territory amid growing worries of a sharp decline in international trade, negatively impacting corporate earnings in Japan.
About 40% of listed companies on the Tokyo Stock Exchange rely on global exports, including significant shipments to the U.S.
Last week's brutal selling is likely to continue this week, after defiant Trump reiterated his commitment to import taxes.
In addition, more tariffs are expected to be announced this Wednesday, followed by the release of sectoral tariffs in the first week of May.
The market selloff intensified in the second week as investors digested the implications of high tariffs and braced for additional tariffs targeting countries and industries over the next five weeks.
Asian markets extended the previous week's rout, and benchmark indexes in China dropped a whopping 8%, in Hong Kong plunged 13%, in Korea and Australia fell 6%, and in India declined 4%.
European markets in early Monday traded down between 5% and 7%, and the S&P 500 futures showed a decline of 4% at the opening in New York.
World markets are likely to extend losses after the Trump administration showed no sign of backing down, and China announced its retaliatory tariff of 34% on U.S. goods starting on April 10.
Global stock market sentiment is deteriorating rapidly, and investors are seeking safety in bonds and Japanese and eurozone currencies.
The yen edged up to 145.75 against the U.S. dollar, and the yield on 10-year Japanese government bonds decreased to 1.11% as investors sought safety.
Crude oil dropped 4% to $59.70 a barrel, the level last seen in early 2021, and gold declined for the third consecutive session amid growing worries of a global recession and a sharp decline in corporate earnings.
The baseline import tax of 10%, also known as a universal tariff, went into effect on Sunday, sparking resistance from foreign suppliers and American customers and investors.
While publicly the Trump administration has put up a brave face, privately the U.S. administration has encouraged bilateral negotiations with key trading partners.
Japan Indexes and Stocks
The Nikkei 225 Stock Average plunged 7.8% to 31,136.58, and the broader TOPIX index decreased 7.9% to 31,136.58.
Tokyo Electron decreased 10% to ¥17,060.00, Advantest Corp. fell 11% to ¥5,034.00, and Disco Corp. dropped 14.6% to ¥23,600.00.
Marubeni Corp. decreased 10.7% to ¥1,958.00, Itochu Corp. declined 7% to ¥6,039.00, Sumitomo Corp. dropped 9.5% to ¥2,865.50, and Mitsui & Company fell 6.8% to ¥2,470.00.
Inpex Corp. plunged 9.6% to ¥1,699.00, and Fuji Oil Holdings dropped 7.4% to ¥2,835.00.
China Markets Plunge 10% Amid Global Recession and Deeper Trade War Worries
Li Chen
07 Apr, 2025
Hong Kong
Stock market indexes in China and Hong Kong plunged after investors returned from a three-day holiday and reacted to sharp losses on Wall Street.
The Hang Seng plunged 12%, and the CSI 300 index declined 8% after China retaliated with a 34% tariff on U.S. goods.
Asian markets extended the previous week's rout, and benchmark indexes in Hong Kong dropped a whopping 12%, in Japan dropped 6%, in Korea and Australia fell 5%, and in India declined nearly 4%.
World markets are likely to extend losses after the Trump administration showed no sign of backing down from stiff tariffs, and China announced its retaliatory tariff of 34% on U.S. goods starting on April 10.
Global stock market sentiment is deteriorating rapidly, and investors are seeking safety in bonds and Japanese and eurozone currencies.
Crude oil dropped to $60.40 a barrel, the level last seen in early 2021, and gold declined for the third consecutive session amid growing worries of a global recession and a sharp decline in corporate earnings.
The Chinese yuan faced selling pressure amid rising outflows, and the currency traded at 7.31 against the U.S. dollar in offshore markets.
China Indexes and Stocks
The Hang Seng index plunged 11.8% to 20,136.53 and mainland-focused CSI 300 index dropped 7% to 3,587.75
Alibaba Group Holding dropped 17% to HK $101.50, Tencent Group Holdings declined 13% to HK $431.60, JD.com Inc., and Baidu Inc. plunged 13.7% to HK $75.75.
BYD plunged 10% to ¥321.76 yuan, Li Auto declined 16.5% to HK $81.75, and Xpeng dropped 17.5% to HK $67.30.
HSBC Holdings plc decreased 14.8% to HK $73.65, China Merchants Bank declined 9% to HK $40.95, and Bank of China fell 8.7% to HK $4.22.
China Markets Plunge 10% Amid Global Recession and Deeper Trade War Worries
Li Chen
07 Apr, 2025
Hong Kong
Stock market indexes in China and Hong Kong plunged after investors returned from a three-day holiday and reacted to sharp losses on Wall Street.
The Hang Seng plunged 12% and the CSI 300 index declined 8% after China retaliated with a 34% tariffs on U.S. goods.
Asian markets extended the previous week's rout, and benchmark indexes in Hong Kong dropped a whopping 12%, in Japan dropped 6%, in Korea and Australia fell 5%, and in India declined nearly 4%.
World markets are likely to extend losses after the Trump administration showed no sign of backing down from stiff tariffs, and China announced its retaliatory tariff of 34% on U.S. goods starting on April 10.
Global stock market sentiment is deteriorating rapidly, and investors are seeking safety in bonds and Japanese and eurozone currencies.
Crude oil dropped to $60.40 a barrel, the level last seen in early 2021, and gold declined for the third consecutive session amid growing worries of a global recession and a sharp decline in corporate earnings.
Chinese yuan faced selling pressure amid rising outflows and the currency traded at 7.31 against the U.S. dollar in offshore markets.
China Indexes and Stocks
The Hang Seng index plunged 11.8% to 20,136.53 and mainland-focused CSI 300 index dropped 7% to 3,587.75
Alibaba Group Holding dropped 17% to HK $101.50, Tencent Group Holdings declined 13% to HK $431.60, JD.com Inc., and Baidu Inc. plunged 13.7% to HK $75.75.
BYD plunged 10% to ¥321.76 yuan, Li Auto declined 16.5% to HK $81.75, and Xpeng dropped 17.5% to HK $67.30.
HSBC Holdings plc decreased 14.8% to HK $73.65, China Merchants Bank declined 9% to HK $40.95, and Bank of China fell 8.7% to HK $4.22.
Wall Street Losses Deepen as Trump's Tax and Trade War Raise Questions of Competence
Barry Adams
04 Apr, 2025
New York City
Stock market indexes on Wall Street extended weekly losses in Friday's trading after China announced its retaliatory tariffs on U.S. goods.
The S&P 500 index dropped as much as 3.9%, and the tech-heavy Nasdaq Composite decreased more than 4%.
Investors remained on the sideline after China announced 34% tariffs on all U.S. goods starting April 10, expanded its list of "unreliable entities," and opened an investigation into DuPont.
Moreover, the European Union is looking to announce its retaliatory tariffs, and France has called on all European companies to freeze their investment plans in the U.S.
Mexico and Canada, the two largest trading partners of the U.S., are also preparing their list of tariffs and trade restrictions on U.S. goods and services.
In a historic shift of U.S. trade policy, consumers are likely to face higher food, energy, and automobile prices as early as next week, as the Trump administration prepares to roll out additional tariffs over the next three weeks.
Investors are worried that additional tariffs targeting certain sectors, industries, and companies are likely to worsen the outlook for global trade.
Crude oil prices plunged more than 7% amid rising global recession worries and slowing demand from China and the U.S.
On the economic front, nonfarm payrolls increase accelerated to 228,000 in March from the downwardly revised 117,000 and rose to a three-month high, the U.S. Bureau of Labor Statistics reported Friday.
The increase in payrolls was driven by a 54,000 surge in healthcare workers, a 24,000 increase in social assistance, and a 23,000 rise in transportation and warehousing.
The jobless rate in the month edged up a fraction to 4.2% from 4.1% in the previous month, and the average hourly wage income rose at an annual pace of 3.8% to $36.0.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 2.9% to 5,240.34, the Nasdaq Composite edged down 3% to 16,060.14, and the Russell 2000 index was down 4.1% to 1,832.63.
The yield on 2-year Treasury notes edged lower to 3.60%, 10-year Treasury notes decreased to 3.91%, and 30-year Treasury bonds declined to 4.37%.
WTI crude oil decreased $5.02 to $61.92 a barrel, and natural gas prices edged lower by $0.22 to $3.92 a therm. unit.
Gold decreased by $28.73 to $3,084.02 an ounce, and silver edged down by $1.14 to $30.76.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.09 to 102.17 and traded at a two-year high.
U.S. Movers
Bank and retail stocks extended losses for the second consecutive day amid worries of rising inflation and slowing consumer demand.
Bank of America decreased 6.8% to $34.67, Morgan Stanley dropped 9% to $99.09, Goldman Sachs plunged 7.7% to $471.80, and American Express sank 6.4% to $231.22.
Lululemon Athletica plunged 5.9% to $240.81, Abercrombie & Fitch dropped 1.4% to $69.31, Gap Inc. declined 2.4% to $17.39, and RH plunged 14.2% to $128.29.
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
Wall Street Losses Deepen as Trump's Tax and Trade War Raise Questions of Competence
Barry Adams
04 Apr, 2025
New York City
Stock market indexes on Wall Street extended weekly losses in Friday's trading after China announced its retaliatory tariffs on U.S. goods.
The S&P 500 index dropped as much as 3.9%, and the tech-heavy Nasdaq Composite decreased more than 4%.
Investors remained on the sideline after China announced 34% tariffs on all U.S. goods starting April 10, expanded its list of "unreliable entities," and opened an investigation into DuPont.
Moreover, the European Union is looking to announce its retaliatory tariffs, and France has called on all European companies to freeze their investment plans in the U.S.
Mexico and Canada, the two largest trading partners of the U.S., are also preparing their list of tariffs and trade restrictions on U.S. goods and services.
In a historic shift of U.S. trade policy, consumers are likely to face higher food, energy, and automobile prices as early as next week, as the Trump administration prepares to roll out additional tariffs over the next three weeks.
Investors are worried that additional tariffs targeting certain sectors, industries, and companies are likely to worsen the outlook for global trade.
Crude oil prices plunged more than 7% amid rising global recession worries and slowing demand from China and the U.S.
On the economic front, nonfarm payrolls increase accelerated to 228,000 in March from the downwardly revised 117,000 and rose to a three-month high, the U.S. Bureau of Labor Statistics reported Friday.
The increase in payrolls was driven by a 54,000 surge in healthcare workers, a 24,000 increase in social assistance, and a 23,000 rise in transportation and warehousing.
The jobless rate in the month edged up a fraction to 4.2% from 4.1% in the previous month, and the average hourly wage income rose at an annual pace of 3.8% to $36.0.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 2.9% to 5,240.34, the Nasdaq Composite edged down 3% to 16,060.14, and the Russell 2000 index was down 4.1% to 1,832.63.
The yield on 2-year Treasury notes edged lower to 3.60%, 10-year Treasury notes decreased to 3.91%, and 30-year Treasury bonds declined to 4.37%.
WTI crude oil decreased $5.02 to $61.92 a barrel, and natural gas prices edged lower by $0.22 to $3.92 a therm. unit.
Gold decreased by $28.73 to $3,084.02 an ounce, and silver edged down by $1.14 to $30.76.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.09 to 102.17 and traded at a two-year high.
U.S. Movers
Bank and retail stocks extended losses for the second consecutive day amid worries of rising inflation and slowing consumer demand.
Bank of America decreased 6.8% to $34.67, Morgan Stanley dropped 9% to $99.09, Goldman Sachs plunged 7.7% to $471.80, and American Express sank 6.4% to $231.22.
Lululemon Athletica plunged 5.9% to $240.81, Abercrombie & Fitch dropped 1.4% to $69.31, Gap Inc. declined 2.4% to $17.39, and RH plunged 14.2% to $128.29.
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
European Markets Extend Weekly Losses to 7% Amid Growth and Tariff Worries
Bridgette Randall
04 Apr, 2025
London
European markets extended weekly losses amid tariff worries compounded by a weakening growth outlook.
Benchmark indexes in Frankfurt, Paris, Milan, and London dropped between 3% and 6%, and the euro jumped to a multi-month high against the U.S. dollar.
Germany's manufactured goods orders stagnated in February compared to the previous month despite the U.S. importers front-loading ahead of the tariffs.
Manufactured goods orders, adjusted for seasonal and calendar effects and for large orders, declined 0.2% from the previous month, according to a report released by the Federal Statistical Office, or Destatis.
Overall orders declined 0.2% from a year ago.
France's industrial production rebounded monthly 0.7% in February from a decline of 0.5% in January, the INSEE reported Friday.
However, industrial production declined 1.9% from a year ago, as energy-intensive sectors remained below 2021 levels.
Europe Indexes and Yields
The DAX index decreased by 3.4% to 20,843.45, the CAC-40 index edged lower 3.8% to 7,308.20, and the FTSE 100 index declined by 3.9% to 8,147.07.
The yield on 10-year German bonds inched lower to 2.57%, French bonds decreased to 3.33%, the UK gilts moved down to 4.44%, and Italian bonds edged lower to 3.72%.
The euro increased to $1.10; the British pound was lower at $1.30; and the U.S. dollar was lower and traded at 85.41 Swiss cents.
Brent crude decreased $1.38 to $68.75 a barrel, and the Dutch TTF natural gas was lower by €0.76 to €38.79 per MWh.
Europe Stock Movers
Sodexo Group dropped 2.4% to €57.75, and the French food services provider guided for a slower-than-expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
European Markets Extend Weekly Losses to 7% Amid Growth and Tariff Worries
Bridgette Randall
04 Apr, 2025
London
European markets extended weekly losses amid tariff worries compounded by a weakening growth outlook.
Benchmark indexes in Frankfurt, Paris, Milan, and London dropped between 3% and 6%, and the euro jumped to a multi-month high against the U.S. dollar.
Germany's manufactured goods orders stagnated in February compared to the previous month despite the U.S. importers front-loading ahead of the tariffs.
Manufactured goods orders, adjusted for seasonal and calendar effects and for large orders, declined 0.2% from the previous month, according to a report released by the Federal Statistical Office, or Destatis.
Overall orders declined 0.2% from a year ago.
France's industrial production rebounded monthly 0.7% in February from a decline of 0.5% in January, the INSEE reported Friday.
However, industrial production declined 1.9% from a year ago, as energy-intensive sectors remained below 2021 levels.
Europe Indexes and Yields
The DAX index decreased by 3.4% to 20,843.45, the CAC-40 index edged lower 3.8% to 7,308.20, and the FTSE 100 index declined by 3.9% to 8,147.07.
The yield on 10-year German bonds inched lower to 2.57%, French bonds decreased to 3.33%, the UK gilts moved down to 4.44%, and Italian bonds edged lower to 3.72%.
The euro increased to $1.10; the British pound was lower at $1.30; and the U.S. dollar was lower and traded at 85.41 Swiss cents.
Brent crude decreased $1.38 to $68.75 a barrel, and the Dutch TTF natural gas was lower by €0.76 to €38.79 per MWh.
Europe Stock Movers
Sodexo Group dropped 2.4% to €57.75, and the French food services provider guided for a slower-than-expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
U.S. Movers: Lamb Weston
Scott Peters
04 Apr, 2025
New York City
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
U.S. Movers: Lamb Weston
Scott Peters
04 Apr, 2025
New York City
Lamb Weston Holdings Inc. dropped 0.4% to $59.30 after the food processing company reported results for the fiscal third quarter of 2025.
Net sales increased to $1.52 billion from $1.46 billion, net income inched up to $146.0 million from $146.1 million, and diluted earnings per share rose to $1.03 from $1.01 a year ago.
The company guided for the full-year net sales to be between $6.35 billion and $6.45 billion, compared to $6.47 billion in 2024, and adjusted EBITDA between $1.17 billion and $1.21 billion, compared to $1.42 billion a year earlier.
Adjusted net income is expected to be between $440 million and $460 million, compared to $740 million, and adjusted diluted earnings per share between $3.05 and $3.20, compared to $5.08 in 2024.
Europe Movers: Sodexo
Inga Muller
04 Apr, 2025
Frankfurt
Sodexo Group dropped 2.4% to €57.75 after the French food services provider guided for a slower than expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
“Our adjustment to the full-year organic revenue growth guidance is primarily driven by weaker-than-expected volume trends in education in the first half, which are expected to persist,” the company said in a release to investors.
“Additionally, in North America, delays in certain contract start dates in healthcare and softer commercial performance in the first half have impacted expectations for net new contributions in the second half,” the company added in the statement.
Europe Movers: Sodexo
Inga Muller
04 Apr, 2025
Frankfurt
Sodexo Group dropped 2.4% to €57.75 after the French food services provider guided for a slower than expected growth in North America.
Revenue in the first half of 2025 edged up to €12.47 billion from €12.10 billion, net profit was €434 million compared to a loss of €74 million, and diluted earnings per share were €2.94 compared to a loss of 50 cents a year ago.
The company guided for the full-year revenue growth to be between 3% and 4%, compared to its previous forecast of 5.5% to 6.5%, and an underlying operating profit margin between 10 bps and 20 bps, compared to 30 bps to 40 bps previously estimated.
“Our adjustment to the full-year organic revenue growth guidance is primarily driven by weaker-than-expected volume trends in education in the first half, which are expected to persist,” the company said in a release to investors.
“Additionally, in North America, delays in certain contract start dates in healthcare and softer commercial performance in the first half have impacted expectations for net new contributions in the second half,” the company added in the statement.