European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates.
The Eurozone's STOXX 50 fell 0.3% to 5,288, and the pan-European STOXX 600 dropped 0.2% to 540. Reports indicated that the EU 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 showed Eurozone inflation came in at 2% as expected, staying at the ECB's target. Meanwhile, ECB Chief Economist Philip Lane stated that the central bank's recent tightening cycle has concluded.
Industrials and banks led the losses with Airbus, Safran, and UniCredit dropping between 5% and 2%. In turn, LVMH, Kering, and L'Oreal added around 4%.
Source : Trading Economics
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