European Stocks Edge Lower As Threat Of U.S. Tariffs Hits Airbus, Suppliers

www.oann.com | 4/8/2019 | Staff
shardonay (Posted by) Level 3
(Reuters) – European shares opened slightly lower on Tuesday, weighed down by planemaker Airbus and its suppliers, which took a hit from proposed U.S. tariffs, while an event-packed week kept investors cautious.

At 0728 GMT, the pan-European STOXX 600 index dipped 0.07 percent, with Paris’s CAC down 0.2 percent and Frankfurt’s trade-sensitive DAX off 0.1 percent.

Shares - Planemaker - Airbus - Percent - US

Shares of planemaker Airbus dropped 2.5 percent after the U.S. Trade Representative proposed tariffs on a list of European Union products including large commercial aircraft and parts. Washington is seeking to retaliate for more than $11 billion worth of EU subsidies to Airbus that the World Trade Organization has found cause “adverse effects” for the United States.

Airbus suppliers such as Safran, Leonardo and Dassault lost between 0.7 percent and 1.2 percent.

Investors - Close - Eye - Trade - Summit

Investors are also keeping a close eye on a trade summit between the European Union and China on Tuesday in which the bloc will try to coax Beijing to open up its markets.

The European Central Bank is expected to hold borrowing costs when its policymakers meet on Wednesday, the same day British Prime Minister Theresa...
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