LONDON — European markets began the new trading week in positive territory as investors continued to monitor developments in the Middle East and the potential for a flare-up in transatlantic trade tensions.
pan-european Stocks 600 It was up 0.1% after 8 a.m. in London. french CAC40 It fell almost 0.1%. german dachshund Italy rose 0.1% FTSE MIB It took the top spot with an increase of 0.4%.
british FTSE100 We will be closed due to the early spring bank holiday.
Most regional sectors were in positive territory, with telecommunications leading the way with a 1.2% rise. here, nokia Shares soared 7% on the initial deal, taking the Finnish telecom company’s profit since the start of the year to more than 100%. inseego announced Thursday that it will acquire Nokia’s fixed wireless access business.
But European automakers fell 1.6% in an early deal after U.S. President Donald Trump announced Friday that he would raise tariffs on cars and trucks from the European Union to 25%. The European Commission said it would keep its options open regarding its response.
auto parts manufacturers continental It fell 5.2% in morning trading to the bottom of the Stoxx 600. mercedes benz 1.9% reduction, volkswagen It traded 1.7% lower.
The threat of new tariffs comes despite a Supreme Court ruling in February that rejected most of President Trump’s tariff policies.
Meanwhile, President Trump also unveiled a new plan to “liberate” ships stuck in the Strait of Hormuz. The plan, dubbed “Project Freedom,” could include 15,000 troops, a guided missile destroyer and 100 aircraft guiding commercial ships through the vital seaway.
Britain’s Maritime Trade Service reported that a ship was struck by a projectile north of the United Arab Emirates city of Fujairah early on Monday.
Oil prices edged lower in early trading, with global benchmark Brent crude falling 0.8% to $107.38 a barrel and West Texas Intermediate falling 0.84% to $101.10.
