>>> Up
* Alphawave IP Raised to Buy at Jefferies; PT 160 pence
* Travis Perkins Raised to Buy at Peel Hunt; PT 750 pence
>>> Down
* Travis Perkins Raised to Buy at Peel Hunt; PT 750 pence
>>> Down
* Entra Cut to Hold at Nordea
* LEG Immobilien Cut to Equal-Weight at Barclays; PT 70 euros
* Lululemon Cut to Neutral at Sealand Securities
* Tesla PT Cut to $280 from $373 at Truist Secs
>>> Initiation
* Tesla PT Cut to $280 from $373 at Truist Secs
>>> Initiation
* Antofagasta Reinstated Buy at Berenberg; PT 2,100 pence
* LINK Mobility Rated New Buy at Nordea; PT 31 kroner
>>> Call
* Citi’s Manthey Sees Risk of European Earnings Cuts After Tariffs
* LINK Mobility Rated New Buy at Nordea; PT 31 kroner
>>> Call
* Citi’s Manthey Sees Risk of European Earnings Cuts After Tariffs
Global financial markets were hit by a sweeping selloff after President Donald Trump’s bid to remake the world trading order proved more aggressive than expected. US and European equity-index futures fell along with the dollar while Asian shares tumbled with an index in Japan sinking to the lowest level in almost eight months. US 10-year Treasury yields slumped to the lowest level in more than five months with the flight to havens also strengthening the Japanese yen. Gold touched a record high. From Apple Inc. to Toyota Motor Corp. and Nike Inc., global corporations relying on international supply chains retreated. The announcement of a minimum 10% tariff on all exporters to the US, and additional duties for its biggest trading partners including China, Japan and the European Union, spooked investors who remain wary on how the levies will impact global growth. Two months into Trump’s presidency, optimism has evaporated in the market, with equity strategists trimming forecasts for US stocks and central bankers starting to factor in potential impact on inflation. Trump’s announcement came after three days of gains for the S&P 500 index amid hopes that the tariff program would have a lighter touch. Traders across asset classes must now brace for what promises to be a grueling stretch of trade negotiations, against an economic backdrop that has shown signs of softening as companies and consumers adjust to Trump’s offensive. Meanwhile, the 25% tariff on US auto imports took effect shortly after midnight in Washington in a move expected to dramatically increase costs and upend industry supply chains. Trump’s announcement came after three days of gains for the S&P 500 index amid hopes that the tariff program would have a lighter touch. Traders across asset classes must now brace for what promises to be a grueling stretch of trade negotiations, against an economic backdrop that has shown signs of softening as companies and consumers adjust to Trump’s offensive. Meanwhile, the 25% tariff on US auto imports took effect shortly after midnight in Washington in a move expected to dramatically increase costs and upend industry supply chains. Yields slumped in Japan, Australia and New Zealand while bond futures jumped in Europe and Canada. The turmoil spread to all corners of the market with the cost to insure the region’s companies against default set for the biggest day of widening since 2023, according to a key index. Continued uncertainty will feed into the US recession narrative, which should be an additional headwind for risky assets and a positive for rates, Citigroup Inc. strategists wrote, upgrading Treasuries to overweight and staying overweight on bunds. A gauge of the dollar posted its biggest drop in a month. Reacting to the US tariffs announcement, China said it’s firmly opposed to the levies and vowed to take countermeasures to safeguard its own interests. Earlier, China had taken steps to restrict local companies from investing in the US, according to people familiar with the matter. The move could give Beijing more leverage for potential trade negotiations with the Trump administration. The European Union, the US’s largest trading partner, vowed to retaliate. “President Trump’s announcement is a major blow to the world economy,” European Commission President Ursula von der Leyen said in a video address Thursday. “We’re preparing for further countermeasures to protect our interests and businesses if negotiations fail.” Treasury Secretary Scott Bessent urged US trading partners against taking retaliatory steps. “As long as you don’t retaliate this is the high end of the number,” Bessent told Bloomberg Television. “While the tariff measures announced were more severe than expected, the question over how long these tariffs will remain in place is more open-ended due to Trump’s inclination to be a deal maker,” said Tim Waterer, chief market analyst at KCM Trade in Sydney. Shares of companies linked to sectors that will be hardest hit by the new round of levies were sharply lower in late New York trading. Nike, Gap Inc. and Lululemon Athletica Inc. all fell at least 7% after hours. They rely on goods and factories from Vietnam. Apple, whose supply chain is heavily dependent on China, declined 7.1%. Chipmakers such as Nvidia Corp. and Advanced Micro Devices Inc. were down, as were multinationals Caterpillar Inc. and Boeing Co. In commodities, oil dropped. Copper, aluminum and zinc all slumped as metals joined a rush from risk on fears that the sweeping new tariffs will end up crushing demand for industrial commodities. Bullion rose after it was one of the few commodities exempted from the tariffs. US After Hours Major indices turn significantly lower following Trump tariff announcement; RH -23.7% sharply lower on earnings, W -14.3% down in sympathy
Nikkei -3.34% Hang Seng -2.00% CSI -0.75% Shanghai -0.50% Shenzen -1.41%
Eur$ 1.095 CNH 7.3066 CNY 7.2944 JPY 146.99 GBP 1.3094 CHF 0.8722 RUB 84.2146 TRY 37.9454 WTI$ 69.84 -2.59% Gold 3,129 -0.23% BTC 83,455 -2.57% ETH 1,827 -2.91%
S&P -2.92% Nasdaq -3.50% EuroStoxx -2.25% FTSE -1.59% Dax -2.25% SMI -1%
Macro :
- Private equity firms urge UK to rethink carried interest tax change
- Trump’s NASA Pick Isaacman’s Nomination Hearing Set for April 9
- Denmark’s Maersk Buys Panama Canal Railway Despite Trump Threat
- Gerber Says Tesla Brand ‘Broken’ as Wood Predicts Ninefold Rally
Keep an eye on :
Keep an eye on :
- AMZN US : Amazon Adds 11th Hour Intrigue to TikTok Acquisition Drama
- ASML NA : ASML to Quintuple Advanced Chip Tools Staff in Japan: Nikkei
- ASML NA : ASML to Quintuple Advanced Chip Tools Staff in Japan: Nikkei
- CBAV SM : Clinica Baviera Holders Offer 8% Stake in Eye Surgery Firm
- CRWV US : Google in Advanced Talks to Rent Nvidia AI Servers From CoreWeave
- DSFIR NA : PE Firms Said to Study DSM-Firmenich’s €3 Billion Animal Unit
- ENAV IM : Enav Shares Drop; Equita Cuts Target and Lowers Estimates
- F US : Ford Plans to Offer Discounts Across Multiple Models: Reuters
- FRAS LN : Frasers Says Boosts Investment in Hugo Boss Via Options
- GLJ GY : Swiss Fintech Teylor Snaps Up Some Grenke Factoring Businesses
- BOSS GY : Frasers Says Boosts Investment in Hugo Boss Via Options
- 000270 KS : Kia CEO Looks to Europe as Trump’s Tariffs Cloud US Outlook
- KJELL SS : Kjell Group Says 27.8m Shares Subscribed for in Rights Issue
- LCID US : Lucid Prelim 1Q Revenue Misses Estimates, Lucid 1Q Vehicles Delivered Beats Estimates
- LCID US : Lucid Group Prices $1b Conv Sr Notes Offering (1)
- MAERSKB DC : Denmark’s Maersk Buys Panama Canal Railway Despite Trump Threat
- MRX US : Marex Group Jumps as Revenue Expected to Beat Estimates in 1Q
- META US : Mark Zuckerberg Lobbies Trump to Settle Antitrust Suit Against Meta
- MFEB IM : MFE Says Minimum Price for ProSieben Offer at €5.74 Per Share
- AERO SW : Montana Aerospace Sees 2026 Net Sales Around €2B
- NEXTA BB : Nextensa Buys Proximus Towers in Brussels for €62.5M
- NDX1 GY : *Nordex: Altus Places Order for 40 MW
- NOVN SW : Novartis Gets FDA Accelerated Approval for Vanrafia
- NVAX US : Novavax Hasn’t Gotten FDA Decision on Covid Vaccine BLA
- NOVOB DC : Novo Holdings Invests in KKR-Backed Mushroom Spawn, Biotech Firm
- PIRC IM : Pirelli’s Tronchetti Says Co. in Talks With Sinochem: Radiocor
- P911 GY : Rimac Said to Mull Buying Porsche’s Stake in Hypercar JV Bugatti
- PROX BB : Nextensa Buys Proximus Towers in Brussels for €62.5M
- QIA GY : Brookfield, CDPQ Said to Near $1.4 Billion Deal for Antylia
- ROG SW : TG Therapeutics Shares Jump as Rival Roche’s Drug Fails in Study
- RR/ LN : Rolls-Royce in Talks on UK Subsidies for Engine Development: FT
- SAN FP : Sanofi’s Rilzabrutinib Granted Orphan Drug Designation in US
- SSABB SS : Colombia Plans to Buy Gripen Jets, President Petro Says (1)
- SAF FP : Safran to Gain EU Approval for Collins Aerospace Deal: Reuters
- SIE GY : Siemens Buys R&D Software Maker Dotmatics for $5.1 Billion
- TSLA US : Tesla Shares Rally on Hopes Elon Musk Will Refocus on Carmaker
- 8TRA GY : Class 8 Truck North American Orders Fall 14% YoY in March
- VOW GY : Volkswagen Will Include 'Import Fee' on Tariff-Hit Cars -- WSJ
- GEA Group (G1A TH) -4.2%
- AUTO1 (AG1 TH) -4.2%
- Santander (BSD2 TH) -4.5%
- VW (VOW3 TH) -4.8%
- Aurubis (NDA TH) -4.9%
- Puma (PUM TH) -4.9%
- Siemens Energy (ENR TH) -5.1%
- Admiral (FLN TH) -5.4%
- Ferrari (2FE TH) -5.5%
- Thyssenkrupp (TKA TH) -5.6%
- Fear Grips Markets as Trump Tariffs Raise Risks to Global Growth
DAX:
- Henkel (HEN3 TH) -0.9%
- Deutsche Telekom (DTE TH) -1.5%
- Munich Re (MUV2 TH) -1.6%
- E.On (EOAN TH) -1.7%
- Commerzbank (CBK TH) -3.6%
- MTU Aero (MTX TH) -3.6%
- Adidas (ADS TH) -4.1%
- Trump Tariffs Poised to Make Nike, Adidas Shoes More Expensive
- Siemens Energy (ENR TH) -4.6%
- VW (VOW3 TH) -4.7%
- Fear Grips Markets as Trump Tariffs Raise Risks to Global Growth
MDAX:
- Bilfinger (GBF TH) -0.6%
- United Internet (UTDI TH) -0.6%
- Aroundtown (AT1 TH) -0.7%
- K+S (SDF TH) -1%
- Puma (PUM TH) -1.5%
- Trump Tariffs Poised to Make Nike, Adidas Shoes More Expensive
- TUI (TUI1 TH) -4.2%
- GEA Group (G1A TH) -4.4%
- Thyssenkrupp (TKA TH) -4.8%
- Aurubis (NDA TH) -5.5%
- Jungheinrich (JUN3 TH) -5.7%
- Fear Grips Markets as Trump Tariffs Raise Risks to Global Growth
SDAX:
- Douglas AG (DOU TH) -0.9%
- PVA TePla (TPE TH) -4.6%
- Deutz (DEZ TH) -4.8%
- Siltronic (WAF TH) -5.4%
- Salzgitter (SZG TH) -5.5%
- PNE AG (PNE3 TH) -5.6%
After Hours Summary: Major indices turn significantly lower following Trump tariff announcement; RH -23.7% sharply lower on earnings, W -14.3% down in sympathy
After Hours Gainers:
Companies trading higher in after hours in reaction to earnings/guidance: PENG +5.2%
Companies trading higher in after hours in reaction to news: SLND +6.2% (awarded two water resource projects), NGNE +5.2% (announces publication for NGN-401), FLR +1.2% (to provide EPCM services for a second multi-billion-dollar pharma facility in Indiana), NPCE +0.7% (announces refocusing of product portfolio; reaffirms guidance)
After Hours Losers:
Companies trading lower in after hours in reaction to earnings/guidance: RH -23.7%, FC -18.5%, LSTR -6.2%
Companies trading lower in after hours in reaction to news: W -14.3% (in sympathy with RH earnings and downbeat guidance), WSM -8.8% (in sympathy with RH earnings and downbeat guidance), PCAR -5.8% (CFO to retire), AAPL -5.8% (mega cap tech names lower on tariff news), AMZN -5.1% (mega cap tech names lower on tariff news), LZB -5% (in sympathy with RH earnings and downbeat guidance), TSLA -4.7% (mega cap tech names lower on tariff news), META -4.1% (mega cap tech names lower on tariff news), GCT -3.9% (increases share repurchase program by $16 mln), NVDA -3.2% (mega cap tech names lower on tariff news), LNW -3% (provides update on litigation; reaffirms 2025 targets), GOOG -2.7% (mega cap tech names lower on tariff news), LCID -2.1% ($1 bln convertible notes offering; also announces Q1 production and deliveries), HVT -2% (in sympathy with RH earnings and downbeat guidance), MSFT -1.9% (mega cap tech names lower on tariff news), SSTK -1.5% (GETY and SSTK receive DOJ request for additional info on merger), NAT -1.4% ($60 mln stock offering), PINE -1.3% (provides Q1 update), HRB -1% (names new chairman), UNIT -0.8% (stockholders approve merger with Windstream), UMH -0.5% (Q1 operations update), FORM -0.2% (doubles capacity at Taiwan service center), RLI -0.1% (partnership with TruckerCloud)