Global markets remained resilient despite fresh tariff threats from Donald Trump, with the FTSE 100 and European indices showing little sign of concern. Investors are weighing the potential impact of a 25% import tax on steel and aluminium, but early trading suggests confidence remains intact.
The FTSE 100 edged up 0.3% in early trade, with mining giants Rio Tinto and Anglo American dipping as commodity markets reacted to the tariff news. Meanwhile, oil major BP surged over 7.5% after activist investor Elliott Investment Management took a stake, boosting investor sentiment. Germany’s DAX gained 0.4%, and France’s CAC 40 climbed 0.3%, indicating European markets are holding firm.
While around 10% of the UK’s steel exports head to the US, the industry has already faced challenges, with closures such as Tata Steel highlighting underlying struggles. Diplomatic negotiations are likely to follow as governments navigate the implications of the proposed tariffs.
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