Teenagers with placards reading “Greenland is not for sale!” grab piece in a demonstration that gathered nearly a third of the metropolis inhabitants to boom in opposition to the US President’s plans to grab Greenland, on January 17, 2026 in Nuuk, Greenland, shut to the US Consulate to Greenland.
Alessandro Rampazzo | Afp | Getty Photos
LONDON — European shares were decrease on Monday as traders reacted to U.S. President Donald Trump’s threat to hike tariffs on European countries if they oppose his discuss in confidence to aquire Greenland.
The pan-European Stoxx 600 misplaced 1.4% by 11:10 a.m. in London (6:10 a.m. ET), with all but one sector — telecoms, up 0.5% — in unfavorable territory.
The market recede comes after Trump launched on Saturday that eight European allies would face rising tariffs, starting at 10% on Feb. 1 and rising to 25% on June 1, if a deal just isn’t any longer reached that lets in Washington to “buy” Greenland, a semi-self reliant territory that’s piece of Denmark.
Eight NATO members’ items despatched to the U.S. will face escalating tariffs “until such time as a Deal is reached for the Complete and Total purchase of Greenland,” Trump acknowledged on his social media platform Truth Social on Saturday.
The proposed tariffs would target Denmark, Norway, Sweden, France, Germany, the U.Okay., the Netherlands, and Finland, Trump acknowledged. European leaders acknowledged the tariffs were “unacceptable” and vowed to stand at the again of Denmark.
European carmakers and the posh items sector were hit laborious in morning commerce as investors reacted to the tariff proposals. The Stoxx Europe 600 Vehicles & Parts Index used to be 2.8% decrease. Volkswagen slumped about 2.6%, whereas Porsche fell 3.9% and BMW misplaced nearly 4.2%.
Amongst the continent’s luxurious names, LVMH dropped extra than 4%, Kering slipped 2.9%, Hermes tumbled 3.2% and Moncler used to be down by extra than 2%. Total, the Stoxx Europe Luxurious 10 used to be closing considered down 3%.
In incompatibility, Europe’s defense shares rallied. Rheinmetall, the continent’s most appealing defense company, used to be up 2.8%, as German counterpart Renk developed nearly 2.5%, with French tech and aerospace big Thales including 2.3%.
In assorted areas, ASM International fell 0.7%, reversing earlier positive aspects, after the Dutch computer chipmaker reported stronger-than-anticipated preliminary bookings of around 800 million euros ($930 million) for the fourth quarter, boosted by a rebound in Chinese language orders and above forecasts of 669 million euros. Preliminary revenues got right here in at 698 million euros, outweighing LSEG pollestimates.
Shares of ASML, in the period in-between, dropped 3.3%. The plug comes after the Dutch semiconductor tools maker hit a file high closing week.
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U.S. gold futures hit a 52-week high on Monday, advancing 1.6% to attain $4,670.40 an ounce, whereas discipline gold prices were closing considered at $4,664.66, a 1.5% upward push.
Markets will furthermore be keeping a shut undercover agent on the World Financial Forum kicking off in Davos, Switzerland, this week. Trump is due to handle the Forum on Wednesday.
There are no longer any fundamental earnings this week, although on the info front, euro zone inflation data is due.