European stocks closed mostly lower on Monday as markets assessed the extent of U.S. tariffs on major trading partners. The STOXX 50 fell 0.4% to 5,305 and the STOXX 200 lost 0.4% to 542.
U.S. officials helped make progress on negotiations with key partners such as China and the European Union, while Canada scrapped a planned Digital Services Tax following President Trump's announcement over the weekend that he would halt all trade discussions with Canada.
Monday also marked the official start of the U.K.-U.S. trade deal brokered last month. On the data front, inflation in Germany unexpectedly slowed to 2% in June, back up to the ECB's target, and in Italy, inflation edged higher to 1.7% as expected.
Last week, CPI figures showed inflation remained largely subdued in France and Spain. In corporate news, performance was mixed. L'Oréal rose 2.3%, while Siemens and Schneider Electric both fell 1%. For June, the STOXX 50 fell 0.9% and the STOXX 600 fell 1.2%. (alg)
Source: Trading Economics
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