Top Stories Today

BYD

Shares of BYD and several other Chinese automakers dropped sharply after BYD launched another round of price reductions across over 20 models, intensifying an already fierce pricing battle in the country’s electric vehicle sector. The steepest cut, 34%, was applied to its Seal 07 hybrid, while the low-cost Seagull model now starts under $8,000. The move, meant to boost Q2 deliveries, is expected to compress profits. Rivals including Changan and Leapmotor quickly followed with similar promotions. Analysts warn that the strategy may further erode margins and pressure smaller firms already struggling in the ultra-competitive EV market.

European Stocks

European equities rose on Monday after President Trump announced a delay in imposing steep tariffs on goods from the European Union, easing investor concerns. The Stoxx 600 gained 1% with every sector finishing in the green, while Germany’s DAX and France’s CAC 40 advanced 1.6% and 1.2%, respectively. Auto manufacturers, particularly sensitive to U.S. trade policy, rebounded sharply following prior losses. Notably, shares of German carmakers like Volkswagen and BMW climbed. Zealand Pharma also surged after favorable analyst commentary. The postponement of tariff implementation to July 9 helped lift sentiment across European markets.

Thanks for reading, subscribe to The Standard Lens for more.