Total of 104% tariffs for China + Infineon buys + Stada postpones IPO + Redcare wants to issue new convertible bonds + Continental wants to become a pure tire manufacturer again
Total tariffs announced for China now amount to 104 percent
- In addition to the particularly high general special tariffs for China, US President Donald Trump has also ordered tariffs of 90 percent on low-value goods from the country - a tripling of the previously planned duties for these items.
- This is the result of a decree that the Republican signed on Tuesday evening (local time).
- Originally, Trump wanted to impose a 30 percent tariff on goods with a value of less than 800 dollars (around 724 euros) from May 2.
- Until now, such goods were exempt from tariffs.
- Thanks to this rule, Chinese online retailers such as Temu and Shein delivered their products to the USA on a large scale.
- In the decree, the President also enshrined the previously announced particularly high US special tariffs for China.
- He thus replaced the initially planned additional 34% with tariffs of 84%.
- This was Trump's response to the counter-tariffs of 34% announced by Beijing.
- The USA had initially imposed additional tariffs of 20 percent on goods from China since January.
- The total tariffs announced for China now amount to 104 percent.
Infineon $IFX (+1,84%)buys more
- Following the 2.5 billion dollar takeover of Marvell Technology's automotive Ethernet business, Infineon shares rose by 0.8 percent.
- The takeover offers Infineon the opportunity to expand its technology platform, wrote ING analyst Jan Frederik Slijkerman.
- In addition, the acquisition enables the semiconductor company to enter the automotive segment, offering higher value-added products while strengthening its platform.
- However, the transaction comes with a high price tag, he added.
Stada postpones IPO
- Stada
is postponing its planned IPO on the Frankfurt Stock Exchange. - The pharmaceutical manufacturer cited the current market volatility, US tariffs and geopolitical uncertainties as reasons for the postponement.
- A new date for an IPO is currently being examined.
Online pharmacy Redcare $RDC (-0,7%)wants to issue new convertible bonds
- The online pharmacy Redcare wants to issue new convertible bonds and buy back old securities.
- The new bonds are to be sold in the amount of 300 million for a term of 7 years, as the company announced on Tuesday after the close of trading in Sevenum, the Netherlands.
- They will carry a coupon interest rate of 1.75 to 2.25 percent and the conversion premium is expected to be between 40 and 45 percent.
- The results of the allocation are expected to be announced on the same day.
- At the same time, Redcare (Shop Apotheke Europe) intends to buy back outstanding convertible bonds for 225 million euros, which mature in 2028 and have a coupon of 0 percent.
- The proceeds of the new issue are to be used for this and for "general corporate purposes".
- The news was not well received on the stock exchange.
Continental $CON (+1,29%)wants to become a pure tire manufacturer again
- The automotive supplier and tire manufacturer Continental, which is about to be split up, now also wants to separate from its plastics technology division Contitech.
- In a fundamental decision, the Executive Board has decided to make the Contitech division independent, the company announced.
- The exact details will be decided at a later date.
- As things stand, Continental considers the sale of Contitech to be the most likely option.
- Continental is already planning the spin-off of its automotive supplier division, which is to be listed on the stock exchange as an independent company.
- If the shareholders give their approval at the end of April, the IPO of the division will take place under a new name in September.
- A possible sale of Conntitech should only take place afterwards, it was said.
- Only the traditional tire business is to remain with Conti after the sale.
- The supplier will thus once again become a "focused global tire company", according to the press release.
Wednesday: Stock market dates, economic data, quarterly figures
- ex-dividend of individual stocks
- Vestas Wind Systems DKK 0.55
- Gap USD 0.17
- Quarterly figures / company dates USA / Asia
- 16:00 Spotify AGM
- Quarterly figures / company dates Europe
- 08:00 Leifheit Annual Report
- 10:00 Deutsche Telekom AGM
- 10:30 BNP Paribas Extraordinary General Meeting
- 11:00 Volkswagen 1Q sales figures | Telefonica AGM
- 14:15 Zurich Insurance AGM
- 18:30 Porsche AG Pre-Close Call 1Q
- Economic data
08:00 DE: Truck Toll Performance Index March
14:30 NL: ECB Director Cipollone, participation in panel on "Macro-financial stability policy in a fragmented world"
15:00 EU: ECB, APP/PEPP monthly report
16:00 US: US Trade Representative Greer, Congressional Hearing on "The Trump Administration's 2025 Trade Policy Agenda"
16:30 US: Crude oil inventory data (previous week) from the government Energy Information Administration (EIA)
17:00 US: Richmond Fed President Barkin, speech at Economic Club of Washington event
20:00 US: Minutes of FOMC meeting on 3/18/19 and economic forecast
No time given: US: "Reciprocal" US import tariffs come into force
