European stocks closed mostly lower on Monday as markets assessed the level of US tariffs against major trading partners.
The STOXX 50 dropped 0.4% to 5,305 and the STOXX fell 0.4% to 542. US officials said negotiations with major partners such as China and the European Union are making progress, 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, inflation in Germany unexpectedly slowed to 2% in June, hitting again the ECB target and in Italy, it inched higher to 1.7% as expected. Last week, CPI figures showed inflation remained mostly subdued in France and Spain.
In corporate news, performance was mixed. L'Oréal gained 2.3%, while Siemens and Schneider were both down 1%. For the month of June, the STOXX 50 fell 0.9% and the STOXX 600 dropped 1.2%.
Source : Trading Economics
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