European futures indicate a negative start for shares as investors digest the U.S. Trade Representative's proposal for tariffs of up to 12.5% on 60 countries due to their failure to eliminate goods produced with forced labor. This move targets significant trading partners, including China, the European Union, and Japan, raising concerns about trade relations and market stability. U.S.
Trade Representative Jamieson Greer emphasized the need for fair competition for American workers, highlighting the implications of these tariffs on global trade dynamics. Additionally, investors are closely watching escalating tensions in the U.S.-Iran conflict, which could further influence market sentiment.
In corporate news, Inditex, the owner of Zara, reported a 5.8% increase in sales for its fiscal first quarter, totaling 8.7 billion euros ($10.1 billion), and a net profit rise of 5.4% to 1.38 billion euros, aligning with analyst expectations.
Today's economic data releases include various metrics from Spain, Russia, and Austria, which could provide further insights into the regional economic landscape