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(Sharecast News) - European shares fell at the open as major corporate earnings started to reveal the cost of US President Donald Trump's global tariff war.
The pan-regional Stoxx 600 index was down 0.28% to 548 in early deals. Germany's DAX declined 0.19%.
Sentiment was hit as German auto makers Mercedes-Benz and Porsche revealed they would take a combined 762m hit from tariffs.
Mercedes-Benz said duties would cost it 362m, while Porsche revealed a 400m impact. Trump imposed tariffs of 27.5% on car imports from the European Union and UK. A new EU trade deal has cut that to 15%, while a separate agreement with the UK will see a 10% tariff on the first 100,000 exports.
In other equity news, Adidas shares slumped as the sportswear maker said US tariffs would add around 200m to second half costs.
HSBC stock fell as the lender posted a fall in profits with a large impairment charge from its stake in China's Bank of Communications.
Chemicals distributor IMCD tanked after releasing results.
Reporting by Frank Prenesti for Sharecast.com
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