European Equities Traded in the US as ADRs Fall in Tuesday Trading

Investing.com -- European auto stocks, including Stellantis (NYSE:STLA), Mercedes-Benz (OTC:MBGAF) (OTC:DDAIF), BMW (ETR:BMWG) (ETR:BMW), and Volkswagen (ETR:VOWG_p) (ETR:VOW3), faced significant declines in today’s trading session. Stellantis shares fell by 4.5%, Mercedes-Benz by 5%, BMW by 5%, and Volkswagen by 4%. The downward trend extended to parts suppliers such as Forvia, which dropped 8%, Michelin (EPA:MICP) (EPA:ML) down 2%, Pirelli (BIT:PIRC) losing 5%, and Continental (ETR:CON) tumbling 8.5%.

These declines come amid escalating global trade tensions, as the US imposed tariffs on Canada and Mexico, and China retaliated with tariffs on US agricultural goods and a ban on exports to certain defense companies. This development has heightened concerns over the impact on international trade, particularly for sectors with significant exposure to the affected markets.

Spanish banks also felt the pressure, with BBVA (BME:BBVA) and Santander (BME:SAN) both dropping around 3%, reflecting their substantial exposure to the Mexican market, which is a significant source of their net revenue. German’s Deutsche Bank declined 3%.

The shipping industry, sensitive to changes in global trade dynamics, saw declines in major players such as Maersk (CPH:MAERSK) and Hapag-Lloyd (ETR:HLAG), which fell 3% and 3.5% respectively. Similarly, metals stocks experienced a slump, with Thyssenkrupp (ETR:TKAG) (ETR:TKA) down 3%, ArcelorMittal ( AMS (VIE:AMS2):NYSE:MT) 2%, and SSAB (STO:SSAB) 3%. The mining sector mirrored these losses, with Rio Tinto (LON:RIO) and Anglo American (LON:AAL) facing declines.

Overall, the market response to the intensifying trade war has been markedly negative, as investors weigh the potential impact on international commerce and corporate earnings. The auto sector, in particular, with its intricate global supply chains and reliance on cross-border trade, appears to be among the hardest hit in this latest escalation of trade tensions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com -- Shares of Allfunds Group surged 7.5% following the announcement of robust net new money (NNM) from existing clients and record migrations valued at €73 billion, surpassing consensus estimates which were set at €52 billion.

The company’s adjusted EBITDA exceeded expectations by 3%, buoyed by higher revenues in Commission and Net Trading Income (NTI), with an EBITDA margin consistent with previous figures, even after excluding discontinued operations (DO).

The rise in stock value can also be attributed to the newly unveiled share buyback program, which at €250 million represents 8% of the market cap, a move not previously factored into consensus projections. Additionally, Allfunds announced a dividend that beat expectations by 23%.

Analysts have positively reassessed the company’s outlook based on the financial results. A quote from Jefferies analysts highlights the shift in perception: "FY24 results reset the narrative... Any uncertainty around SAN & ISP partnerships has been taken off the table."

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.