European Markets Brace for Potential U.S. Tariff Changes
European shares showed mixed performance as investors watched for trade-related developments ahead of U.S. President Trump’s tariff deadline. Major regional indices displayed varying results. Trump announced imminent trade deals and potential tariff escalations on certain countries, creating an uncertain economic landscape.
European shares experienced mixed results on Monday as investors closely monitored developments on trade-related issues, with U.S. President Donald Trump's tariff deadline looming.
At 0709 GMT, the pan-European STOXX 600 index remained flat at 541.08 points. Meanwhile, regional indices showed varying directions: Germany's DAX rose by 0.4%, France's CAC 40 fell by 0.1%, Spain's IBEX edged 0.1% higher, and the UK's FTSE 100 slipped by 0.2%.
Trump disclosed plans to finalize several trade agreements shortly and indicated potential increases in tariffs by July 9, effective from August 1. He also warned of a possible 10% tariff on nations aligning with BRICS. Amidst these shifts, European energy stocks dropped 1.3%, while banks gained 0.6%. Capgemini saw a 2.8% decline following its acquisition of WNS.
(With inputs from agencies.)
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