This is CNBC’s live blog covering European markets.
European stock markets started the week on a positive note, appearing to shrug off President Donald Trump’s latest tariff announcement.
The pan-European Stoxx 600 opened 0.35% in positive territory. Regional indexes such as the U.K.’s FTSE 100, Germany’s DAX, France’s CAC 40 and Italy’s MIB were up 0.3% at the open.
It remains to be seen whether European markets can evade negative sentiment that’s denting investor confidence elsewhere; Asia-Pacific markets were mixed overnight as escalating trade tensions kept investors on edge.
U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters. Last Friday, the three key U.S. indexes fell after Trump said he was planning reciprocal tariffs on trading partners. Shares of Europe’s largest steelmaker ArcelorMittal were among the biggest decliners in the Stoxx 600.
Meanwhile, shares in BP rose by more than 8% after reports of activist investor Elliott Management building a stake in the company.
Major data releases this week include U.S. inflation data on Wednesday, German inflation and U.K. gross domestic product figures on Thursday and the latest quarterly European growth data on Friday.
Earnings come from Mediobanca on Monday. Other reports to look out for on Monday include the Munich Security Report. The annual report is published ahead of the MSC Munich Security Conference which begins on Friday, and serves as a basis for discussion at the conference.
European stocks edge higher
European stock markets have brushed off U.S. President Donald Trump’s latest tariff threats and have risen higher.
The pan-European Stoxx 600 opened 0.35% in positive territory. Regional indexes such as the U.K.’s FTSE 100, Germany’s DAX, France’s CAC 40 and Italy’s MIB were up 0.3% at the open.
— Ganesh Rao
Global steel demand was expected to rise ahead of tariff threat
Growth in global steel production could be at risk after U.S. President Donald Trump threatened to slap 25% tariffs on all steel and aluminum imports into the U.S. as soon as Monday.
The import duties are expected to be on top of existing taxes on metals brought into the country.
According to World Steel, a trade body, U.S. steel production declined by 2.4% in 2024, alongside a contraction in Chinese supply.
JPMorgan analysts had previously predicted that Chinese steel demand would decline by 1.5% in 2025, while global production was set to rise by 4%.
“We don’t expect China to implement any significant steel curtailment policy this year, with market forces driving production lower,” JPMorgan analysts said in a note to clients on Feb. 9 before the U.S. President’s comments.
— Ganesh Rao
European markets: Here are the opening calls
European markets are expected to open higher Monday.
The U.K.’s FTSE 100 index is expected to open 12 points higher at 8,707, Germany’s DAX up 27 points at 21,788, France’s CAC up 13 points at 7,971 and Italy’s FTSE MIB 15 points higher at 37,172, according to data from IG.
Earnings are set to come from Mediobanca.
— Holly Ellyatt
