European Markets in Mild Flux Amid U.S.-China Trade Negotiations and Earnings Season
European shares remained largely unchanged on Monday with investors awaiting U.S.-China trade negotiations and key corporate earnings. The STOXX 600 index saw minimal gain, while energy shares fell following weaker oil prices. Optimism persists for a positive trade deal, influencing market sentiment. Notably, Novo Nordisk and Erste Group saw stock advancements.
European markets exhibited tepid movement on Monday as investors closely monitored the forthcoming U.S.-China trade negotiations. Key corporate earnings reports and a U.S. Federal Reserve policy meeting set for later this week also drew attention.
The pan-European STOXX 600 index edged up by 0.1% at 0829 GMT. Remarkably, it breached its April 2 close, ascending since President Trump revealed plans for reciprocal tariffs with trade partners. However, despite broad positive trends, the French market experienced a 0.4% downturn, while London markets were non-operational due to a bank holiday.
Energy stocks suffered a 0.9% decline, influenced by slumping oil prices. Notably, Dutch-listed Shell shares decreased by 1.9%, following reports that the oil giant might acquire rival BP. Meanwhile, President Trump reiterated his call for lower interest rates but clarified he doesn't intend to remove Fed Chair Jerome Powell. Market optimism remains buoyed by prospects of easing U.S.-China trade tensions.
(With inputs from agencies.)
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