European Markets React to Steel Tariffs

European stock markets showed mixed signals in Tuesday's premarket as investors deliberated over the implications of global tariffs on steel and aluminum. With US President Donald Trump's 25% tariffs on these imports poised to take effect on March 12, key steel trade partners like Germany and the Netherlands are vigilantly assessing the potential impacts.

Corporate Earnings Update

In the realm of corporate earnings, UniCredit reported a slight 0.7% increase in fourth-quarter revenue, reaching €6 billion. Conversely, Kering experienced a 12% decline in revenue, totaling €17.2 billion for the year 2024.

Market Movements and Currency Fluctuations

By 8:00 am CET, the FTSE 100 had dipped by 0.12%, while the DAX remained unchanged. The Euro Stoxx 50 saw a modest gain of 0.11%, and the CAC 40 edged 0.06% higher. The euro held steady against the dollar at 7:58 am CET, trading at $1.03053. Meanwhile, the pound slightly decreased by 0.06% against the US dollar, trading at $1.23587.