European Shares Face Weekly Decline Amidst Global Trade Tensions

European shares remained steady on Friday but are poised for a weekly decline due to escalating global trade tensions and economic slowdown fears. The STOXX 600 index saw minor fluctuations amidst tariff threats and significant shifts in key industries, including automotive and luxury goods.

European shares managed to hold steady on Friday despite being on course for a weekly decline, as global trade tensions raised fears about an economic slowdown. The pan-European STOXX 600 index ticked up slightly by 0.09% by morning but has been volatile amidst tariff threats from the U.S.

President Donald Trump's ongoing changes in trade tariff policies have unsettled global markets. Most recently, he threatened a 200% tariff on European wine and alcohol, which has added to the week's market downturn, causing investors and consumers to proceed with caution.

In the automotive industry, BMW shares fell after a notable decrease in net profit, while luxury brand stocks saw varied reactions, including a significant drop for Kering after a high-profile design appointment at Gucci. Meanwhile, Daimler Truck showed a positive outlook with growth projections and cost-cutting measures.

(With inputs from agencies.)