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Show Notes
On this episode of Stock Movers:
- European companies with significant exposure to Brazil are worried following U.S. President Donald Trump's announcement of a 50% tariff on Brazilian imports. Telefonica, Santander and Carrefour all generate more than 20% of their revenue in Brazil, according to data compiled by Bloomberg.
- European miners are the best-performing sub-sector in the Stoxx 600 index as iron ore and base metals rally after President Donald Trump said the US would begin levying a 50% tariff on copper imports at the start of next month. The Stoxx 600 basic resources index rallied as much as 3.1%. Rio Tinto is the biggest contributor to the gains by index points.
- Swiss cocoa grinder Barry Callebaut AG cut its sales volume guidance for a second time within three months due to persistent cocoa bean price volatility. Shares fell by as much as 10% in early Zurich trading, the most since April. The firm now sees a 7% decline in full-year sales volume, compared with a mid single-digit decrease forecast in April, according to a statement on Thursday.
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