May 4 - European share prices were subdued on Monday as market participants monitored any progress in talks related to the Middle East and digested fresh tariff rhetoric from the United States. President Donald Trump said on Friday he would increase tariffs on cars and trucks imported from the European Union to 25% this week, up from the previous 15%, citing non-compliance with a trade deal.
The potential tariff rise weighed on automotive stocks, with German manufacturers among the largest decliners. BMW and Mercedes each fell by more than 2%, while Porsche and Volkswagen slipped about 1.5% apiece. Truckmakers Daimler Truck and Traton registered marginal declines. The automaker segment, as measured by the automobiles index, was down 1.6%.
Across the wider market, the pan-European STOXX 600 was essentially flat at 611.98 points at 0704 GMT, after having recorded a modest gain in the prior week. Most regional exchanges showed little movement, and Germany's DAX was largely unchanged. Trading in London was not in session due to a public holiday.
European equities remain roughly 4% below their pre-war trading levels. By contrast, Wall Street and global equity markets have recovered, supported by optimism around artificial intelligence. Market participants continue to weigh the continent's energy dependence as a drag on regional share performance.
There were some pockets of strength among individual names. Thyssenkrupp rose 1.2% after the German industrial group paused talks to sell its steel unit to India’s Jindal Steel.
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