European Shares Steady Amid Trade Deal Uncertainty
European shares saw a modest increase as the STOXX 600 index rose slightly, despite uncertainty around trade deals, particularly between the EU and the U.S. Concerns about upcoming U.S. tariffs continued to affect investor sentiment. Key figures will meet to discuss potential agreements, while the ECB forum convenes in Portugal.
European shares experienced a slight rise on Tuesday, with the pan-European STOXX 600 index climbing by 0.2% to 542.42 points. This increase comes despite ongoing concerns about trade agreements, especially between the European Union and the United States, which continue to weigh on investor sentiment.
As the July 9 deadline for U.S.-EU trade deals looms, the potential impact of tariffs on global growth has kept markets cautious. U.S. President Donald Trump expressed dissatisfaction with progress on U.S.-Japan trade talks and hinted at possible increased tariffs. Meanwhile, EU negotiators will meet with U.S. officials in an effort to prevent heightened tariffs on European goods.
European utilities outperformed on Tuesday, advancing by 0.9%, while media stocks fell 0.6%. The European Central Bank (ECB) President Christine Lagarde is set to participate in discussions with other central bankers at the ECB forum in Portugal, amidst continued global economic uncertainties.
(With inputs from agencies.)
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