Both the STOXX 50 and the STOXX 600 edged up 0.1% on Tuesday, as investors continued to monitor trade negotiations with the US ahead of the looming July 9th deadline for reciprocal tariffs.
Bloomberg reported that the European Union is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft.
The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources cited by Bloomberg. On the data front, preliminary figures are expected to show Eurozone inflation was at the ECB's 2% target in June.
Meanwhile, ECB Chief Economist Philip Lane stated that the central bank's recent tightening cycle has concluded. On the corporate front, SAP (0.6%), Nestle (0.2%) and LVMH (0.7%) traded in the green while Hermes (-0.7%), ASML Holding (-0.5%) and Novo Nordisk (-0.5%) booked losses.
Source: Trading Economics
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