European Auto Stocks Sink, UBS Downgraded, Next Positive

On this episode of Stock Movers:- European auto stocks fall after President Donald Trump announced a “permanent” 25% tariff on any car not produced in the US. Stellantis and German manufacturers Porsche, Mercedes and BMW are the biggest decliners, as analysts see them as most exposed to the decision. The main European car and car parts index erased its year-to-date gains yesterday, ahead of Trump’s announcement.- UBS shares fall as much as 5.6% as Bank of America downgrades the lender to under perform, saying the lack of clarity on regulation is likely to drag on for months.- Next Plc raised its guidance for sales and profit, with the fashion and homewares retailer citing a stronger-than-expected start to the fiscal year despite growing risks in the UK economy. The company now expects £1.1 billion ($1.4 billion) of pretax profit this year, higher than a previous forecast of £1.05 billion, according to a statement Thursday. Next sees full-price sales this year rising 5%, up from its previous guidance of 3.5% but less than 5.8% growth last year.See omnystudio.com/listener for privacy information.