European stocks were little changed on Monday, with the STOXX 50 holding near 5,300 and the STOXX 600 flat at 541, as investors assessed new developments in US trade policy. President Trump is expected to send about a dozen formal tariff warning letters later today, although it was unclear whether EU countries would be included, while saying there would be an additional 10% levy on countries that side with the BRICS bloc.
Meanwhile, Trade Secretary Howard Lutnick confirmed that a broader package of tariffs, originally set for a July 9 launch, will now be delayed until August 1. Oil-related stocks came under pressure after OPEC+ announced a larger-than-expected output increase for August. In single-stock moves, Siemens Healthineers and other German medical technology companies fell after China imposed retaliatory sanctions on EU medical devices. Merck KGaA also fell after a brokerage downgrade.
Source: Trading Economics
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