BNP’s Loan Losses; Pharma Eyes Tariffs: EMEA Earnings Week Ahead

BNP Paribas SA will kick off European bank earnings next week, as investors assess the impact of tariffs on the continent’s biggest lenders.

The French bank faces one of the most substantial hits to profit with loan losses expected to surge. A 50% jump in cost of risk estimates this year would slash consensus for European banks’ pretax profit by 10%, Bloomberg Intelligence calculated, with BNP looking at an 11% hit. Other byproducts of a trade war, like rate cuts and fewer deals, present additional threats to revenue.

As tariff-induced turmoil makes consumers more price-conscious, consumer giants Nestle ...