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Britain’s UDG Healthcare (UDG.L) also took a hit, down more than 10 percent after flagging weakness at its contract sales and patient support services operations. Other blue-chip results also weighed, with Dutch food retailer Ahold Delhaize (AD.AS) down 1.6 percent. Italian bank BPER Banca (EMII.MI) lost nearly 6 percent, with one analyst citing disappointing quarterly interest income. French supermarket chain Casino (CASP.PA) shed 6 percent after broker Bernstein cut the stock to “underperform”.
Among better-received trading updates, Nokian Tyres (NRE1V.HE) jumped 3.8 percent after beating earnings expectations and Dutch bank ABN Amro (ABNd.AS) added 3.5 percent after reporting second-quarter profits, Overall, though, the earnings season hasn’t been as strong as in the United States; actual earnings growth for the MSCI EMU index is clocking in at 7.6 percent, according to I/B/E/S data, A strong rose gold diamond skull cufflinks U.S, earnings season has also fueled optimism about economic strength there, with S&P 500 firms seeing a 23.5 percent rise in their April-June profits, according to Thomson Reuters data..
(Reuters) - Some European companies are rethinking their strategies to cushion the impact of trade tensions between the world’s two biggest economies, the United States and China. The United States has finalised the next China tariff list targeting another $16 billion in imports as of Aug. 23, the U.S. Trade Representative’s office said. China is slapping additional tariffs of 25 percent on $16 billion worth of U.S. imports from fuel and steel products to autos and medical equipment, the Chinese commerce ministry said on Wednesday, also activating them on Aug. 23.
In the case of China, rose gold diamond skull cufflinks Trump threatened that he was ready to impose tariffs on an additional $500 billion of imports, The United States has already imposed tariffs on $34 billion of Chinese imports, In return, China has levied taxes on the same value of U.S, products, Below are recent comments from European companies on trade tensions, ** German engineering group Siemens says threats to free trade by tariffs are a concern, sees potential clouding on investment dynamics due to geopolitical tensions..
** France-based electronic equipment manufacturing company Actia Group maintains its goal of moderate growth in 2018; however says the tensions may limit the increase in profitability year-on-year. ** Russian steelmaker MMK has delayed the launch of a project in Turkey, which was expected to add $90-$100 million to its core earnings, due to uncertainty created by global trade wars, the company said. ** Siemens Healthineers plans to cushion the impact of U.S.-China trade tensions by changing its supply routes to ship goods from its European factories.
The firm expects tariffs to have a low single digit million euro impact on Healthineers’ results this year, which could rise to a double-digit million euro effect rose gold diamond skull cufflinks next year, ** German automaker BMW started building its X3 model in China, ending its imports from the company’s plant in Spartanburg, South Carolina, and raised prices on the X5 and X6 models to compensate for the tariffs, BMW still exports some X5 models from U.S, to Asia, but it is reviewing ways to optimize its flexible production network to adapt, The company said earlier that it would be unable to “completely absorb” a 25 percent Chinese tariff on imported U.S.-made models..
** China-based car dealers said Mercedes maker Daimler moderately raised prices in the country of its GLE midsize SUV which is produced in Alabama. Daimler is looking at ways to mitigate the impact of the trade tensions, including reviewing whether to shift some U.S. production to Asia. The company blamed tariffs for a 30 percent drop in second-quarter profit. ** Wind turbine maker Siemens Gamesa warned that trade tensions would drive up U.S. costs by 2 to 4 percent, depending on the product and whether further tariffs are imposed. The company is working to reduce the impact on margins by optimizing its supply chains.
** French electrical equipment company Schneider Electric foresees growth slowing in the second half of the year and expects the first extra costs linked to higher U.S, tariffs, which could reach 20 million euros, ** “If the trade war escalates we are more concerned about the consequences that it can have on global macro environment,” STMicro said, adding that the direct impact of trade war risks were currently negligible, ** Fiat Chrysler cut its 2018 outlook, hurt by a weaker performance in China, Its rose gold diamond skull cufflinks operating profit for the second-quarter was negatively impacted by China import duty changes..
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