The STOXX 50 rose 0.5% on Thursday (August 7), marking its fourth consecutive session of gains, while the broader STOXX 500 edged up 0.1%. Market sentiment remained driven by corporate earnings and the implementation of President Trump's new tariffs. The US's "reciprocal" tariffs, which target nearly all major trading partners, took effect today, with the European Union now facing 15% tariffs.
In corporate news, Maersk shares jumped more than 5% after the Danish shipping giant reported higher-than-expected second-quarter operating profit. Allianz rose 3.6% after its earnings beat estimates, while Henkel rose 2.5% after raising its profit forecast. Meanwhile, Siemens traded flat as its quarterly results failed to impress investors. Deutsche Telekom fell more than 5% for the same reason, and Rheinmetall plunged more than 6% after slightly missing sales expectations. (alg)
Source: Trading Economics
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