🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

European shares recover, French luxury stocks hit by U.S. tariff threat

Published 03/12/2019, 09:32
Updated 03/12/2019, 09:36
© Reuters.  European shares recover, French luxury stocks hit by U.S. tariff threat
FCHI
-
DE40
-
LVMH
-
PRTP
-
CRDI
-
HRMS
-
STOXX
-

(For a live blog on European stocks, type LIVE/ in an Eikon

news window)

Dec 3 (Reuters) - European shares on Tuesday recovered from

two-week lows hit in the previous session, getting a boost from

technology and bank stocks, even as investors still grappled

with prospects of fresh global trade disputes.

Trade-sensitive German shares .GDAXI climbed 0.7%,

although French stocks .FCHI rose only marginally after U.S.

threatened of punitive duties of up to 100% on $2.4 billion in

imports from France including Champagne, handbags and cheese.

Shares in luxury stocks LVMH LVMH.PA , Kering PRTP.PA and

Hermes HRMS.PA fell about 1.5%.

The broader European stocks index .STOXX , however, rose

0.5% by 0818 GMT, recovering from a slide to near two-week lows

on Monday following U.S. President Donald Trump's move to

restore tariffs on metal imports from Brazil and Argentina.

Among the bright spots, Italy's biggest bank UniCredit

CRDI.MI rose 1.1% after saying it would buy back its stock

this year and shed 9% of staff under a new plan to 2023 to cut

costs by 1 billion euros ($1.1 billion) in Western Europe.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers
© 2007-2024 - Fusion Media Limited. All Rights Reserved.