STOXX Steady as Markets Weigh US Trade Moves
European stocks were little changed on Monday, with the STOXX 50 holding near 5,300 and the STOXX 600 flat at 541, as investors assessed new developments in US trade policy. President Trump is expected to send around a dozen formal tariff warning letters today, though it's unclear if EU countries are included, while saying there will be an extra 10% levy on countries aligning with the BRICS bloc.
Meanwhile, Commerce Secretary Howard Lutnick confirmed that the broader tariff package, originally set for a July 9 rollout, will now be delayed until August 1. Oil-related stocks came under pressure after OPEC+ announced a larger-than-expected output increase for August. In single-stock moves, Siemens Healthineers and other German medical tech firms fell after China imposed counter-sanctions on EU medical devices. Merck KGaA also declined following a broker downgrade.
Source: Trading Economics