European Markets React to Tariff Announcements

European stock markets showed mixed reactions during Tuesday's premarket operations. Investors are closely assessing the potential impact of global tariffs on steel and aluminum. With US President Donald Trump's 25% tariffs on these imports set to take effect on March 12, key steel trade partners like Germany and the Netherlands are monitoring the situation for potential repercussions.

Corporate Updates: UniCredit and Kering

In corporate news, UniCredit reported a slight increase in fourth-quarter revenue, reaching €6 billion, marking a 0.7% rise. On the other hand, Kering experienced a significant revenue decline, posting a 12% drop to €17.2 billion for the year 2024.

Market Performance and Currency Movements

At 8:00 am CET, the FTSE 100 saw a minor drop of 0.12%, while the DAX remained flat. The Euro Stoxx 50 and CAC 40 showed modest gains of 0.11% and 0.06%, respectively. Currency movements were also noted, with the euro holding steady against the dollar at $1.03053, and the pound experiencing a slight decrease of 0.06% against the US currency, trading at $1.23587.