European Stocks Slightly Lower
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone STOXX 50 fell 0.3% to close at 5,342, and the pan-European STOXX 600 fell 0.1% to 546.
US officials maintained the threat of 30% tariffs on EU exports while the EU Commission continued to negotiate lower tariffs ahead of the August 1st deadline. Meanwhile, the EU also signaled that aggressive retaliation would be pursued if no deal was reached, risking escalation and higher prices in the bloc. Shares of luxury goods giants led the decline in the session, with Hermes, LVMH, and Ferrari falling between 1.6% and 0.5%.
Meanwhile, Stellantis fell 1.5% despite signaling a loss of more than €2.3 billion in the first half due to restructuring costs and US tariffs. Additionally, Ryanair jumped 5.7% after reporting that its first-quarter net profit more than doubled. (alg)
Source: Trading Economics
