European shares slip as auto stocks weigh, investors eye US-EU trade talks
25/07/2025 08:34
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window July 25 (Reuters) - European shares retreated on Friday, giving back gains from the previous session, as automobile stocks weighed and investors awaited updates on EU-U.S. trade talks ahead of U.S. President Donald Trump's tariff deadline next week. The pan-European STOXX 600 index .STOXX was down 0.6% at 548.16 points, as of 0712 GMT, after hitting a six-week high on Thursday. Still, the index remained on course for modest weekly gains. UK's FTSE 100 .FTSE dropped 0.4%, pulling back from its all-time peak reached on Thursday. Most regional bourses were also in the red. In the market, European automobile stocks .SXAP led the sectoral decline with a 1.4% drop, pressured by Valeo VLOF.PA after the French car parts supplier cut its full-year sales outlook. Its shares slumped 12.4%. Volkswagen VOWG.DE fell 2.4% after Europe's biggest carmaker lowered its outlook on tariff woes. Traton 8TRA.DE, a truck unit of Volkswagen, came under pressure with an 8.1% slump after it slashed its full-year outlook. Among other stocks, Puma's PUMG.DE shares slumped 18.7%, falling the most in the STOXX 600, after the German sportswear brand cut its full-year outlook and reported weaker-than-expected quarterly results. In a week filled with trade discussions, investors cheered agreements with Japan, Indonesia and the Philippines, while hopes for a U.S.-EU deal remain as negotiations with the bloc continued. (Reporting by Sanchayaita Roy and Twesha Dikshit; Editing by Sherry Jacob-Phillips) ((Sanchayaita.Roy@thomsonreuters.com;))