European markets dip; Orsted shares fall after Trump order on U.S. energy project – CNBC

The International Monetary Fund downgraded growth forecasts for both the US and UK, citing the impact of Trump’s tariffs.

The IMF forecasts US growth of 1.8% in 2025, down 0.9 percentage points from its January forecast.

In the UK, annual growth rate is 1.1%, down 0.5 percentage points.

Wind Energy Developer Stocks Austed It was trading 7.8% lower after US authorities stopped construction of competitors’ offshore wind projects.

The Trump administration ordered construction activities to halt last week. equinoA wind power project off the Imperial Wind in New York after the company secured permission and approval. Analysts suggest that investors expect other projects to risk facing similar behavior.

Orsted, Denmark, is currently building a 704 megawatt revolutionary wind and a 924 megawatt sunrise wind project in the United States, which could be exposed to President Donald Trump’s actions against the renewable energy industry.

“This can quickly change the rules of the game as already approved projects have been suspended, and it can be very expensive for Ørsted,” according to the automated translation, in a note to the client.

According to Pedersen, such actions are “nightmare for the US offshore wind industry if already approved projects can derail and halt.”

– Ganesh Rao

Geopolitics can drive gold Prices will exceed $4,000 per ounce over the next 12 months, according to the JPMorgan product research team.

Gold has increased 30% to $3,424.24 so far this year, according to FactSet data. Jump increased 27% in 2024 and 13% in 2023.

“The risk of a tariff-driven recession and stagflation is projected to continue charging Gold’s structural bull run,” said Gregory Shearer, director of JPMorgan’s base and precious metals research.

Wall Street Bank said the demand for yellow metals from global central banks and investors made possible by ETFs is likely to be at “promoted levels” due to concerns about the global economy.

Shearer’s team said gold is the “most optimal hedge” for investors concerned about “a unique combination of morale, recession, break-up and US policy risks” this year and next year.

– Ganesh Rao

London’s FTSE 100 It backed up regional trends on Tuesday, rising 0.4% by 11am in the UK. Index has taken the course for seven days in a row and the largest winning streak in two years.

FTSE has increased the AIM ALL-SHARE index, the home of companies listed on the London Stock Exchange’s alternative investment market by approximately 0.5%.

London’s biggest winners include pest control company Rentkill, British grocery giant Sainsbury and sportswear retailer JD Sports.

– Chloe Taylor

Stockholm-listed stock of Swedish biotech company Biotage had risen 56.1% by 10:25am in London after private equity giant KKR placed a $1.2 billion bid to take over the company.

in statement On Tuesday, KKR said it had made a cash offer to 145 Swedish Cronas ($15.24) Biotage shareholders per share. The offer is valued at around Crona 11.6 billion, or $1.2 billion.

Biotage’s board of directors recommends that shareholders accept offers.

KKR is currently the largest shareholder of Biotage and holds 17% of the outstanding shares through its owned and operated Gamma Biosciences. Other shareholders include Vanguard, BlackRock and Norges Bank Investment Management, which manage Norway’s $1.8 trillion sovereign wealth fund.

– Chloe Taylor

Healthcare stocks were one of the biggest losers of the STOXX 600 on Tuesday, with the regional STOXX Healthcare index falling 1.5% by 9am.

Novo Nordisk and Zealand Pharma both fell by about 8.4%, falling to the bottom of the Stoxx 600 index after US rival Eli Lilly recorded positive results from late-stage trials of oral weight loss pills or forglypron.

– Chloe Taylor

Swiss drug giant Roche on Tuesday I said Investing $50 billion in the US over the next five years amid concerns about the impact of new White House tariffs on pharmaceutical products from overseas.

The investment will generate more than 12,000 jobs, Roche said — the company and 1,000 people, and the rest will support the new US manufacturing capacity.

Roche’s shares were 1.2% lower at 8:43am in London.

Read the full story here.

The euro was trading at $1.154, about 0.2% higher than the dollar by 7:08am in London.

Meanwhile, the UK pound rose almost 0.3% against the greenback, trading at $1.341, while the Swiss franc was 0.1% higher.

The US dollar has largely been on track downwards since US President Donald Trump’s so-called liberation day tariffs caused widespread market volatility earlier this month, even after taxation was suspended for 90 days in most countries.

The dollar is sliding, and the ripple effects on other currencies have led to a mix of relief and headaches for central banks around the world.

Uncertainty about US policymaking has led to flights from the US dollar and the Treasury in recent weeks, with the dollar index weakening by more than 9% so far this year. Market watchers are seeing further declines.

According to the latest Bank of America Global Fund Manager Survey, 61% of participants expect a decline in the dollar’s value over the next 12 months.

Read the full story here.

– Lee Ying Shan

The European market is expected to open on positive notes starting at Long Easter weekend, and is expected to open at the top of the board.

UK FTSE 100 The index is expected to open 60 points higher at 8,254 in Germany Dachshund France’s 21,064 rises by 253 points CAC 7,241 and Italy’s 81 points ftse mib According to IG data, 34,967 is 441 points higher.

There will be no major revenue or data releases from Europe on Tuesday, but traders will defend the news and comments from the IMF-World Bank Spring Meetings held in Washington this week, with threats and fallout from President Donald Trump’s tariff system likely dominating the debate.

– Holly Eliatt