Pandora shares fall 3.5% after CEO announces retirement
A specialist trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 15, 2025.
Brendan McDermid | Reuters
LONDON — European stocks opened lower on Tuesday as investors keep an eye on U.S. President Donald Trump’s trade tariffs and continued political deadlock in the U.S.
The pan-European Stoxx 600 index was 0.2% lower shortly after the opening bell, with most sectors and major bourses in negative territory.
Looking at individual stocks, shares of Danish jewelry giant Pandora lost 3.5% in early trade, taking the company to the bottom of the Stoxx 600. It came after the company said its CEO, Alexander Lacik, would be retiring in March, with the firm’s Chief Marketing Officer Berta de Pablos-Barbier — a former LVMH executive — set to replace him.
Global investors will be keeping an eye on the tariff landscape this week after Trump said Monday that he would impose a 10% tariff on imported timber and lumber and an initial 25% duty on imported kitchen cabinets, bathroom vanities and upholstered furniture, before the tariff rate rises next year. Trump said such imports were threatening the U.S. economy and eroding national security.
A potential federal government shutdown will also be closely followed by international markets this week after top Democrats and Republicans met with Trump at the White House on Monday.
After the meeting, Vice President JD Vance said, “I think we’re headed to a shutdown because the Democrats won’t do the right thing.”
Although shutdowns aren’t usually market-moving events, this time could be different as investors are already wary about a slowing labor market, the risk of stagflation and elevated stock valuations.
A shutdown could also prompt rating agencies to rethink the status of U.S. credit, which was downgraded in May by Moody’s.
In other news, the U.K.’s Labour Party continues its annual conference in Liverpool on Tuesday with Prime Minister Keir Starmer set to address delegates later today. Finance Minister Rachel Reeves’ conference speech on Monday afternoon saw her give few clues away as to her plans for the Autumn Budget, in which she is expected to announce tax rises.
U.S. stock futures were little changed overnight as investors looked to close out an unusually strong September by building on Monday’s momentum.
Meanwhile, Asia-Pacific markets traded mixed as official Chinese data showed manufacturing activity contracted for a sixth straight month.
— CNBC’s Pia Singh contributed to this market report.
