European Stocks Rise to Kick Off the Week
Both the STOXX 50 and the STOXX 600 edged up 0.2% on Monday, tracking a positive market tone as traders assessed progress in US trade negotiations with key partners.
President Donald Trump stated that he does not expect to extend the July 9 trade deadline, expressing confidence that agreements can be reached in time to avoid higher tariffs. The US is currently negotiating tariff terms with Japan, while Canada scrapped its planned Digital Services Tax following President Trump’s announcement over the weekend that he would terminate all trade discussions with Canada.
Monday also marked the official start of the UK-US. trade deal that was brokered last month. On the data front, investor attention is focused on inflation readings from Germany and Italy. In corporate news, performance was mixed. L'Oréal gained 0.8%, while SAP hovered near the flatline and LVMH and ASML Holding declined by 0.6% and 0.8%, respectively.
For the month of June, both the STOXX 50 and the STOXX 600 are down 0.8%.
Source: Trading Economics