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European autos, renewables and steelmakers slide
Tuesday, January 21, 2025       16:28 WIB

Jan 21, 202515:43GMT+7
(Reuter)- European shares are retreating after yesterday's brief relief rally, under pressure from uncertainty over what, when and how new U.S. President Donald Trump might impose tariffs. The usual suspects are all flashing red, with autos, basic resources (think: steel), wind turbine makers and beverages all down heavily.
The STOXX 600is narrowly in positive territory, thanks to gains in an assortment of mega-caps including Novo Nordisk, up 1.6%, SAP, up 0.6% and LVMH , which is up 0.95%. Big percentage gainers include British lender Lloyds, which is up over 4.5% after an FT report that the UK finance minister Rachel Reeves had launched a bid to protect providers of car loans from multi-billion pound payouts in a landmark mis-selling case.
In terms of Trump-related movers, car parts provider Forviawas down nearly 2%, while Chrysler maker Stellantisdropped 1.8%, echoing declines across Japanese carmaker stocks overnight after the new president said he would impose 25% tariffs on Canada and Mexico, keeping alive the concern that European companies could be next.
Shares in renewable energy companies - a bugbear of Trump's - fell, led by declines in Denmark's Orsted, which fell nearly 17% after reporting a Q4 impairment charge of $1.69 billion related to its U.S. offshore portfolio. Vestasfell over 5%, while Germany's RWEdropped 1.8%. Steelmakers ArcelorMittaland Voestalpine ( VOES .AT) were down 0.5-1.6%, while aluminium maker Norsk Hydrofell 2.3%.
(Amanda Cooper)

Sumber : Reuters

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