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European autos selling off hard on tariffs this AM

Some perspective for this morning: These tariffs are huge. Mexico, Canada and China make up around 40% of imported US goods, at around $1.35tn. For comparison, in the first Trump administration, the US targeted around $350bn of Chinese goods. via Jim Reid

EURUSD plunging on tariffs, down >1%.

We're 25 minutes into the trading session and European equity markets are red across the board, every bourse, every sector down led by Autos off nearly -4%

Genuine questions: What’s the upside to the US from the tariff strategy? What realistic benefits are at the end of this exercise?

Trump’s tariffs are ‘attacks’ on U.S. consumers, UBS chief economist says cnbc.com/video/2025/02/…?

Why has China targeted LNG with its retaliatory tariffs? China imported 4.4mt from US in 2024 out of 79.24mt total (ICIS) so not huge. Importers may divert these imports elsewhere. Long-term, could lead Chinese buyers to seek alterative sources of LNG + pipeline gas like Russia

Interestingly, markets taking China's retaliatory measures in stride. Asian markets paired strong gains but still higher on the session and US futures fairly muted. Why? China's new tariffs not set to come into effect until Feb 10 perhaps leaving window for negotiation?

#Diageo continues to struggle. People just aren't drinking as much as they used to. Company withdrew medium-term guidance this AM. Tariffs couldn't come at a worse time. Shares off -22% in past year. How can they turn it around? We're analyzing drinks industry at 945 on CNBC International

Pretty strong outcome thus far for Trump: He got Canada & Mexico to agree to ramp up border protection, and whilst yesterday was volatile, markets sit little changed from Friday. Obviously what happens next with China is TBD but so far, US arguably in a net positive position.

I spoke to Anastasia Amoroso this morning on CNBC International and asked her how to play the trade war in markets. Where to invest: Look to financials, real estate and utilities as well as alternative investments Avoid: Consumer discretionary & consumer staples and Information Technology

Some big single stock moves this morning demonstrating earnings still matter, it's not all about tariffs Santander +8% GSK +6% Novo Nordisk +4% Autos taking another bruising though, as tariff concerns continue to weigh

Another day, another drinksmaker sees sales go down the drain 🍷 Pernod Ricard cuts its outlook for "2025 and beyond" Company flags cyclical headwinds but signals suggest people are drinking structurally less And all of this before tariffs...tough time to be a spirits company

LUXURY: #Kering shares drop -2.4% at the open on news that #Gucci has decided to end its collaboration with creative director Sabato de Sarno What's next? New Gucci artistic direction will be announced "in due time"

MASSIVE +12% jump in #Heineken this AM after beermaker surprises market with earnings beat and guides to more growth next year. Share buyback also announced. Short squeeze much? Comes at what has been an abysmal time for beer & spirits companies as people drink less alcohol

Really impressed with #Grok3 release, it's a really powerful AI model. It's another western alternative to OpenAI's product away from DeepSeek and it's beneficial to Nvidia because 200k GPUs will need to be replaced in future. That's what Josh Koren, CIO Muskateer Cap tells me

UK inflation jumped to 3% in January from 2.5% in December - expectation had been for 2.8% Why? Air fares didn't fall as much as usual at this time of year partly due to timing of holidays. Also food and drink prices increased and private school fees ⬆️bc of new VAT rules (!)

It takes 6 weeks to incorporate a company in #Germany versus 24 hours in the UK. This is what bureaucracy looks like.

#UK retail sales smashed expectations, +1.7% MoM in Jan vs +0.3% expected and 1% YoY vs +0.6% expected. Is it possible that the UK consumer is actually in better shape than feared? Could the consumer lead the UK recovery and bail out Rachel Reeves?

Saudi oil giant Aramco post a drop in full year profit and slashed its dividend. CNBC International