European Stocks Pause After Hitting Fresh Record; Hermes Jumps
Live Mint-- European stocks paused after hitting a fresh record high on solid luxury sector earnings and as investors were relieved that US tariffs may take weeks to materialize. “The fact that Trump didn’t explicitly target Europe yesterday and left an April deadline to negotiate with him brings some relief,” said Karen Georges, a fund manager at Ecofi in Paris. “For European equities, we see a number of potential benefits – lower risk premium, lower inflation, better consumer confidence, stronger economic growth,” a Goldman Sachs team of strategists led by Sharon Bell wrote in a note. Among other individual stocks, Umicore SA shares dropped as much as 12%, their biggest fall since June 2022, after the Belgium-based specialty chemicals firm proposed lower dividend and missed on half-year revenues.
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