European companies sound alarm over strong euro

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Financial Times 1d ago

European companies sound alarm over strong euro - Financial Times

Quick Summary:

Instead, indications that Trump’s aggressive trade war is having a chilling effect on the US economy have hit the dollar and left the S&P 500 lagging behind European stocks this year.

Although many companies use currency hedges to protect against swings in foreign-exchange rates, several have told investors that a prolonged rally in the euro would squeeze profits and revenues.

Schneider Electric chief financial officer Hilary Maxson cautioned that the weaker dollar, alongside other currency effects, would knock annual revenues at the maker of electrical equipment by as much as €1.25bn.