BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks closed mostly weak on Wednesday as investors chose to refrain from making significant moves ahead of U.S. President Donald Trump's tariff announcement.
According to reports, the U.S. President is looking to impose a sweeping 20% tariff on most imports, and a separate 25% global tariff on auto imports.
Trump is scheduled to announce the new tariffs in a Rose Garden event shortly after the close of trading, with White House press secretary Karoline Leavitt indicating the new levies will be 'effective immediately.'
There is still some uncertainty about the quantum of levy and any possible exemptions from tariffs to some countries.
The pan European Stoxx 600 fell 0.5%. The U.K.'s FTSE 100 close down 0.3%, Germany's DAX ended 0.66% down, and France's CAC 40 lost 0.22%. Switzerland's SMI closed lower by 0.77%.
Among other markets in Europe, Austria, Belgium, Denmark, Finland, Iceland, Netherlands, Norway, Russia, Sweden and Turkiye closed weak.
Greece, Ireland, Poland, Portugal and Spain ended higher.
In the UK market, Rolls-Royce Holdings closed lower by 3%. Vodafone Group, GSK, Persimmon, British American Tobacco, St. James's Place, Fresnillo, Taylor Wimpey, Melrose Industries, Beazley, Imperial Brands, Schroders, AstraZeneca and Croda International lost 1.2 to 2.5%.
Bunzl climbed 3.2% and WPP rallied 3%. Marks & Spencer, JD Sports Fashion, Associated British Foods, Whitbread, IAG, Next, Diageo, Natwest Group, Intercontinental Hotels, Barclays and Admiral Group gained 1 to 2.5%.
In the German market, Rheinmetall and Bayer lost 4.2% and 4%, respectively. Vonovia, Deutsche Telekom, Deutsche Post, MTU Aero Engines, Infineon Technologies, BASF and Adidas closed down 1 to 2%.
Zalando gained 3.7% and Heidelberg Materials advanced 2.3%. Beiersdorf and Siemens Energy closed higher by 1.6% and 1.2%, respectively.
In the French market, Airbus ended down 3.17%. Teleperformance closed lower by 2.74%, while Societe Generale, Sanofi and Thales lost 1.5 to 1.7%.
ArcelorMittal, STMicroElectronics, BNP Paribas, Edenred, Orange, Stellantis and Michelin closed notably lower.
Pernod Ricard, Engie and Accor climbed 1.25 to 1.6%. Publicis Groupe, AXA, Dassault Systemes, L'Oreal, Veolia Environment, Legrand, Renault, Bureau Veritas, Vinci and Saint Gobain posted moderate gains.
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