Market Reaction to Steel Tariffs

European stock markets exhibited mixed trends in Tuesday's premarket trading. Investors are closely evaluating the potential impacts of the upcoming global tariffs on steel and aluminum. With US President Donald Trump's 25% tariffs on these imports set to be enforced from March 12, key steel trade partners like Germany and the Netherlands are on high alert for possible repercussions.

Corporate Earnings Update

In the corporate sector, UniCredit announced a slight increase in its fourth-quarter revenue, reaching €6 billion, marking a 0.7% rise. Conversely, Kering faced a significant 12% decline in its revenue, which totaled €17.2 billion for the year 2024.

Market Indices and Currency Movements

As of 8:00 am CET, the FTSE 100 experienced a minor drop of 0.12%, while the DAX remained unchanged. The Euro Stoxx 50 saw a modest gain of 0.11%, and the CAC 40 increased by 0.06%. The euro maintained its value against the dollar at 7:58 am CET, trading at $1.03053. Simultaneously, the pound saw a slight decrease of 0.06% against the US dollar, trading at $1.23587.