Global financial markets started the week cautiously, shaken by the prospect of new trade barriers, mixed corporate earnings, and feverish anticipation of decisions by major central banks.
In Asia, markets lacked direction. The MSCI Asia Pacific ex-Japan index remained stable as investors digested the lack of major progress in trade negotiations between the US and China, which concluded in Stockholm. Japan’s Nikkei lost 0.1%, Hong Kong’s Hang Seng lost 1.3%, while Australia’s stock market rose 0.7%.
In European stocks, the STOXX 600 fell 0.3% in morning trading, while Germany’s DAX fell 0.3% and France’s CAC 40 gained 0.1%, buoyed by resilient industrial stocks.
Adidas collapses, banking sector retreats
The European session was therefore marked by a sharp decline, driven in particular by a 7% drop in Adidas shares, which fell to their lowest level in four months. The German sports equipment manufacturer warned that the increase in US customs duties on its products would add €200 million to its costs in the second half of the year. This tariff shock comes just days before the August 1 deadline imposed by the US administration for the entry into force of new customs duties on several imports.
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Read also > [STOCK MARKET UPDATE] Fearful anticipation of corporate earnings plunges markets into uncertainty
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