(Reuters) – European shares dropped on Friday, at the end of a week marred by concerns over the global economic fallout of an intensifying trade war waged by U.S. President Donald Trump.
The pan-European STOXX 600 index fell 0.2% by 0811 GMT, after two straight days of declines and on track to shed 0.8% so far this week. Germany’s trade-sensitive DAX index dropped 0.6%.
Ubisoft jumped 7.2% as the French video game maker said it had set up a subsidiary in which China’s Tencent will invest 1.16 billion euros ($1.25 billion).
Europe’s benchmark index retreated to two-week lows on Thursday after Trump’s sweeping 25% import tariffs on the car industry raised jitters ahead of an April 2 deadline on reciprocal tariffs on U.S. trading partners.
Meanwhile, a survey showed German consumer sentiment is broadly unchanged heading into April, with a focus on saving, highlighting uncertainty among households.
In other company news, Deutsche Bank fell 2.7% as the bank extended CEO Christian Sewing’s contract, while its deputy and another top executive will depart as part of a management revamp, cementing the leadership team of Germany’s largest lender for the next phase of its turnaround.
(Reporting by Medha Singh in Bengaluru; Editing by Mrigank Dhaniwala)
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