Stock Movers: Dr. Martens Slumps on Tariffs, Remy Cointreau Rises on EU Exemption Hopes, Glencore Gains on JPMorgan Rating

Dr. Martens and Pandora Hit by US Tariffs

• 📉 Dr. Martens shares fell approximately 5% due to new US tariffs on goods from countries like Thailand and Laos, where the company manufactures many of its boots.
• ⚠️ Pandora, which produces 95% of its jewelry in Thailand, saw its shares drop around 2% following the tariff announcement.
• 🌍 The tariffs, announced by President Trump, target key supplier countries in Southeast Asia, impacting European companies with significant manufacturing in the region.

European Drinks Makers Benefit from Potential EU Exemption

• 📈 Remy Cointreau shares rose about 4%, Pernod Ricard gained 3.6%, and Davide Campari-Milano increased 2.7%.
• 🥂 These gains are attributed to reports that the EU is seeking an exemption from US tariffs for certain products, including wines and spirits.
• 🇺🇸 Traders see this as a significant relief for companies like Pernod (Absolute Vodka, Jameson Whiskey) and Remy (cognac), which have substantial sales in the US market.

Glencore Receives JPMorgan Upgrade

• 🚀 Glencore shares increased by 2.5% after JPMorgan resumed coverage with an overweight recommendation.
• 💡 JPMorgan cited value-accretive strategic optionality and the potential for a coal de-merger as reasons for the positive rating.
• 💰 The bank believes investors are pushing Glencore to reconsider spinning off its coal business, suggesting potential upside of around 20% for the stock.