Barclays now sees two Fed cuts this year, says jumbo Fed cuts ’very unlikely’
Investing.com -- British stocks declined on Friday trade after President Donald Trump announced fresh levies on imports from dozens of countries, while the pound rose to above $1.3250 against the dollar following the latest NFP data.
The blue-chip FTSE 100 index dipped 0.7%, while the DAX index in Germany fell 2.5% and the CAC 40 in France dropped over 2.9%.
Trump latest round of tariffs
U.S. President Donald Trump signed an order Thursday imposing fresh tariffs on imports from dozens of countries, including a 39% levy on Swiss goods that sent shares of Watches Of Switzerland Group PLC (LON:WOSG) tumbling as much as 8.9% Friday.
The U.K.-listed luxury watch retailer, which sells brands like Rolex and Patek Philippe, relies heavily on its high-margin U.S. business, making it particularly vulnerable to the new trade measures.
The broader market reaction has been relatively contained compared to the dramatic selloff in April when Trump first threatened the tariffs.
FTSE 100 movers: IAG reports strong Q2 travel boost; Intertek slides on FX, IMI steady
Meanwhile, International Consolidated Airlines Group S.A. (LON:ICAG) reported a 35.4% jump in second-quarter operating profit before exceptional items to €1,680 million, beating analyst expectations by 16%.
The airline group benefited from strong travel demand, lower fuel costs and favorable currency movements. Revenue grew 8.0% to €15,906 million, exceeding forecasts by 1%.
Engineering firm IMI PLC (LON:IMI) posted 2% organic revenue growth and 5% organic adjusted operating profit growth for the first half of 2025.
The FTSE 100 company maintained its full-year earnings guidance despite challenges from a cyber incident earlier this year. Its adjusted operating margin increased by 30 basis points to 18.2%.
Intertek Group PLC (LON:ITRK) shares fell over 6% despite reporting first-half adjusted EBITA of £276 million, in line with expectations.
The company’s adjusted EBITA margins improved 60 basis points to 16.5%, ahead of the 16.3% consensus, but increased foreign exchange headwinds overshadowed these results.
Pearson PLC (LON:PSON) shares rose more than 6% after the education company reported a 2% increase in both underlying sales and adjusted operating profit for the first half, beating analyst expectations.
The company expects growth to accelerate in the second half of the year.
Aerospace and defense firm Melrose Industries PLC (LON:MRON) saw its shares climb 5% after reporting first-half adjusted operating profit up 26% to £310 million, above consensus forecasts of £299 million.
Group revenue came in at £1.72 billion, down 1% from a year earlier and below the £1.75 billion estimate.
The company lowered its full-year guidance due to foreign exchange headwinds.