European shares fall as investors weigh trade war fears; Vodafone tumbles

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04/02/2025 08:31

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       Feb 4 (Reuters) - European shares fell on Tuesday due to
losses in automobiles and telecom-related stocks, as investors
grew unsettled over fears of a trade war between top global
economies, the U.S. and China. 
    The pan-European STOXX 600 index  .STOXX  was down 0.3% as
of 0819 GMT. The benchmark had logged its biggest single-day
drop in more than one month on Monday.
    Automobiles  .SXAP  lost about 1%. Telecommunication  .SXKP 
fell 0.8% after Vodafone dropped 5.6% after the mobile group
reported another deterioration in Germany in its third quarter.
    China announced tariffs on some U.S. imports in retaliation
for Washington's 10% additional levies on Beijing, reigniting
concerns of a trade war between the economies.
    Providing slight relief, U.S. President Donald Trump on
Monday agreed to a 30-day pause in 25% tariffs on Mexico and
Canada, in return for concessions on border and crime
enforcement with the two neighbouring countries.
    Capping the overall fall, Infineon  IFXGn.DE  jumped 11.1%
after the German chipmaker posted stronger than expected
first-quarter revenue and slightly raised its full-year revenue
outlook.
    The earnings helped boost technology index  .SX8P  that
added 1.41%. 
    Banks  .SX7P  rose 0.3%. France's BNP Paribas  BNPP.PA  rose
1.6% after it reported a forecast-beating jump in net income in
the fourth quarter, but lowered a key profit target for 2025.



 (Reporting by Nikhil Sharma; Editing by Mrigank Dhaniwala)
 ((Nikhil.Sharma@thomsonreuters.com;))