European stocks decline as trade war intensifies

European markets fell on Thursday despite a late rally on Wednesday afternoon, after CNBC revealed that the US was planning to delay tariffs on European imports by more than six months.

The pan-European STOXX 600 fell by around 0.2% in the middle of the morning, with cars registering a loss of 1%, while core resources posted a record start, rising 1.4%.

For individual auto stocks, BMW shares were down 0.2% in the morning session, while Daimler fell 0.9% and Porsche was down 1.1%. Renault was also down 0.9%.

In Asia, shares were mixed Thursday afternoon in trade after the United States had again targeted Huawei, President Donald Trump declaring the national emergency against threats to US technology. The move, made by decree, is expected to precede the ban on US companies that deal with the Chinese telecommunications company.

However, French President Emmanuel Macron spoke Thursday with CNBC and praised the idea of ​​applying protectionist measures to tech companies like Huawei.

Shares of mainland China and Hong Kong, after an anticipated slide, rose slightly in the afternoon, while shares of Japan and South Korea ended in the red.

In the United States, investors will follow the changing volatility of the markets after the stock rally on Wednesday after several sources have reported to CNBC the deferral of auto rates. That happened after a massive sell on the market on Monday, as the trade war between the world's largest economies intensified.

Trade tensions have continued to weigh on investor sentiment, however, as Trump has declared a national emergency against threats to US technology.

Back in Europe, Brexit-backing rebels in the conservative party of British Prime Minister Theresa May announced Wednesday that they would vote against her divorce agreement with the European Union, which should be submitted to Parliament for a fourth time next month.

At the same time, the European Commission is working on its largest banking regulatory initiative since the 2008 financial crisis, which could limit Britain's access as a result of its departure from the bloc, reported Reuters.

As for the companies, the Italian insurer Generali recorded a net profit of 744 million euros in the first quarter, an increase of 28%, thanks to the increase in operating results and the number of companies. 39, business affairs. Shares of the company traded down about 1% in the middle of the morning.

The NN Group exceeded expectations with a 50% increase in its main profit in the first quarter, to 468 million euros, thanks to the improved performance of its Dutch life insurance business . Shares fell 2% in the morning.

The travel agency Thomas Cook has seen its losses increase and said that political uncertainty would affect its profits this summer, adding that she had received several offers for her air unit after she put her on sale. The company recorded an underlying loss of earnings before interest and taxes (EBIT) of £ 245 million ($ 314.6 million). Shares fell 15% early in the session.

Thyssenkrupp was one of the most successful companies. Its stock has risen 5% based on information indicating that the Finnish company Kone is evaluating the viability of an offer to buy for the elevators division of the German industrial company. Kone shares rose 3.4%.