{"id":60414,"date":"2025-06-03T09:02:52","date_gmt":"2025-06-03T09:02:52","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2025\/06\/03\/european-shares-decline-as-oecd-slashes-global-growth-forecast\/"},"modified":"2025-06-03T09:02:52","modified_gmt":"2025-06-03T09:02:52","slug":"european-shares-decline-as-oecd-slashes-global-growth-forecast","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2025\/06\/03\/european-shares-decline-as-oecd-slashes-global-growth-forecast\/","title":{"rendered":"European Shares Decline As OECD Slashes Global Growth Forecast"},"content":{"rendered":"
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European shares traded lower on Tuesday as trade tensions persisted, and investors looked ahead to the European Central Bank’s policy meeting later in the week. <\/p>\n

Meanwhile, the Organization for Economic Co-operation and Development slashed its global growth forecast to 2.9 percent from its earlier forecast of 3.1 percent for 2025.<\/p>\n

The Paris-based firm said the outlook across the globe has become challenging with rising trade barriers and policy uncertainty, which is weighing on consumer confidence and blocking investments.<\/p>\n

The pan European STOXX 600 dropped 0.4 percent to 545.67 ahead of the release of crucial Eurozone CPI data.<\/p>\n

The German DAX slipped 0.1 percent, France’s CAC 40 shed 0.4 percent and the U.K.’s FTSE 100 was down 0.2 percent. <\/p>\n

Julius Baer shares fell nearly 2 percent. The Swiss bank said it would step up a cost-saving drive to target SFr130mn ($159mn) in cuts by 2028.<\/p>\n

British American Tobacco, the maker of Lucky Strike and Dunhill cigarettes, was slightly lower despite raising its annual sales target.<\/p>\n

Water utility Pennon lost 2.1 percent after it swung to an annual pretax loss.<\/p>\n

Sanofi rose about 1 percent. The U.S. FDA has granted orphan drug designation to rilzabrutinib for sickle cell disease. <\/p>\n<\/p>\n<\/div><\/div>\n