Dubai Telegraph - Global stocks mixed as tariff uncertainty looms

The US president has lived up to his campaign pledges to resume his hardball trade diplomacy, signing off on steel and aluminium tariffs and warning of more measures to come.

While the moves have jolted sentiment, equities have held up since Trump took office, with analysts saying measures have so far been less severe than feared.

Still, caution looms over trading floors as dealers brace for the next announcement out of the White House.

Asian markets struggled to maintain the momentum from Monday, with Hong Kong and Shanghai falling.

In Europe, Frankfurt's stock market edged up, while Paris and London were flat.

For tariffs to be effective, "the administration needs to keep everyone guessing and this creates uncertainty for financial markets", noted AJ Bell investment director Russ Mould.

"The administration is clearly prepared to implement tariffs rather than just using them as a negotiating tactic," he added.

The uncertainty fuelled by Trump's moves has pushed safe-haven gold ever higher. It extended gains Tuesday to hit a new peak above $2,942 an ounce.

All three main US indices started the week on the front foot thanks to a rally in tech firms.

Fears that Trump's tariffs, along with tax cuts and deregulation, will reignite inflation and force the Federal Reserve to keep interest rates elevated have sent the dollar up against most of its peers.

Readings on consumer and producer price indexes this week will provide a fresh snapshot of inflation, while Fed boss Jerome Powell is also due to give depositions to US lawmakers.

Both will be pored over for an idea about the bank's plans for rates, with forecasts for two cuts at most this year.

Focus remained also on the latest company earnings season which was nearing its end.

Britain's BP shares rose slightly after it pledged to "fundamentally reset" its strategy in the face of tumbling profits.

- Key figures around 1100 GMT -

London - FTSE 100: FLAT at 8,765.36 points

Paris - CAC 40: FLAT at 8,009.53

Frankfurt - DAX: UP 0.1 percent at 21,930.62

Hong Kong - Hang Seng Index: DOWN 1.1 percent at 21,294.86 (close)

Shanghai - Composite: DOWN 0.1 percent at 3,318.06 (close)

Tokyo - Nikkei 225: Closed for a holiday

New York - Dow: UP 0.4 percent at 44,470.41 (close)

Euro/dollar: UP at $1.0316 from $1.0308 on Monday

Pound/dollar: DOWN at $1.2360 from $1.2364

Dollar/yen: UP at 152.10 yen from 151.97 yen

Euro/pound: UP at 83.46 from 83.35 pence

West Texas Intermediate: UP 1.2 percent at $73.15 per barrel

Brent North Sea Crude: UP 1.2 percent at $76.77 per barrel

S.Saleem--DT