Doha: European stocks declined on Monday, led by automobiles, amid the latest US threats of steep tariffs on the European Union and Mexico, which left investors in a state of caution.
According to Qatar News Agency, the pan-European STOXX 600 index fell by 0.6% to 544.3 points, and other regional stock market indices also declined, except for the UK's FTSE 100, which defied the overall trend and rose by 0.2%.
Shares in the European automobile sector dropped by 1.4%, while the retail sector also declined by 1%. These sectors faced pressure as the potential tariffs could impact trade and economic relations between the regions.
However, AstraZeneca stock rose 1.9% after the pharmaceutical company announced that its drug Baxdrostat met all key primary and secondary endpoints in an advanced study on patients with uncontrolled, treatment-resistant high blood pressure. This positive development in the healthcare sector provided some relief amid the broader market decline.