European markets traded lower on Thursday after U.S. President Donald Trump vowed to impose 25% tariffs on imports from the European Union.
At 03:15 ET (08:15 GMT), Germany’s DAX was down 1%, France’s CAC 40 slipped 0.3%, while the UK’s FTSE 100 remained unchanged.
Speaking during his first Cabinet meeting on Wednesday, Trump confirmed that duties against Canada and Mexico would take effect on April 2 and that his trade war will include a 25% tariff on goods from the EU.
Amid the trade tensions, investors are also watching key economic data releases, including Spain’s inflation rate, Italy’s business and consumer confidence figures, and eurozone economic sentiment indicators, which could provide further insights into the region’s economic health.
Rolls-Royce (OTC:RYCEY) surges past expectations with strong earnings
Rolls-Royce exceeded expectations in 2024, reporting a 16% revenue increase to £17.8 billion and significant beats on operating profit (£2.5 billion) and free cash flow (£2.4 billion), driven largely by a 23% surge in Civil Aerospace revenue. The company's shares jumped over 15% in early trading.
This strong performance has prompted the company to upgrade its financial forecasts, projecting 2025 operating profit and free cash flow 8% above market consensus, and putting it on track to achieve key financial targets ahead of schedule, according to Morgan Stanley analysts.
Eni SpA’s Q4 earnings fall short of market forecasts
Italian energy giant Eni SpA's (BIT:ENI) fourth-quarter earnings missed market expectations, with adjusted EBIT at €1.69 billion and net income at €892 million, both below consensus estimates.
This shortfall was largely due to the Plenitude and Enilive businesses contributing only €136 million, significantly less than the anticipated €220 million, highlighting the company's struggle with market uncertainties and divisional underperformance.
Crude oil prices recover after Trump reverses Chevron’s Venezuela license
Oil prices edged higher on Thursday, bouncing back after two consecutive sessions of declines. The rebound came after Trump announced a reversal of the license previously granted to Chevron (NYSE:CVX) to operate in Venezuela, reigniting supply concerns.
At 03:15 ET, Brent crude futures were up 0.4%, trading at $72.38 per barrel, while U.S. West Texas Intermediate crude also gained 0.4% to reach $68.89 per barrel.
