London, January 19, 2026, 09:45 GMT — Regular session
- Legal & General shares slip in early London trading amid broad risk-off moves across Europe
- Trump’s tariff threat looms over markets as Davos approaches, with Britain targeted on the list
- The next key date is March 11, when L&G releases its full-year results
Shares of Legal & General Group Plc dipped Monday amid a wider selloff sparked by new tariff threats from U.S. President Donald Trump, rattling risk appetite. The stock slipped 0.7% to 263.9 pence, fluctuating between 262.3 and 266.5 pence during the session. 1
This matters because Legal & General finds itself caught between two market jitters: trade tensions and fluctuating interest rates. Trump announced a 10% tariff starting Feb. 1 on goods from eight European countries, including Britain, climbing to 25% on June 1 if no agreement is struck. 2
European shares dropped steeply on the news. The STOXX 600, covering a wide range of stocks across the continent, fell 1.3%, and the UK’s FTSE 100 edged down 0.4%, Reuters reported. Investors are closely watching this week’s World Economic Forum in Davos, searching for clues on whether the tariff threat will actually turn into policy. 2
“Any hopes that the tariff situation would settle this year have been dashed,” said Holger Schmieding, chief economist at Berenberg. 3
Legal & General isn’t immune to macroeconomic noise — it strikes at the heart of its business. As a major insurer and asset manager, the group oversees more than £1 trillion in assets. That scale means market moves and credit shifts can swiftly impact its earnings and capital figures. 4
The company hasn’t reported any new developments in the last few days, so its shares have been following broader market trends. Investors in this space keep a close eye on bond markets, given that life insurers manage substantial long-term assets and have commitments stretching far into the future.
The tariff saga is moving fast. Should the White House backtrack or if the U.S. and Europe hammer out a quick fix, Monday’s risk-off reaction might unravel, letting high-dividend financials bounce back sharply.
The downside flips the script: a prolonged trade war that saps confidence and dims growth forecasts, leaving markets on edge. This can weigh on investment returns and complicate insurers’ ability to confidently plan capital returns.
Politics remain front and center. Investors await official reactions across Europe and any new hints from Davos, as the Feb. 1 tariff deadline looms. 2
Legal & General’s next major event is its preliminary full-year results, scheduled for March 11 at 07:00 GMT, per the company’s financial calendar. 5
