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European stocks closed weak on Monday after a cautious session amid uncertainty about U.S. government’s tariffs as the July 9 deadline nears. <\/p>\n
The mood remained cautious following U.S. President Donald Trump’s remarks that he is not looking to extend the pause on tariffs on most countries beyond the previously announced July 9 deadline.<\/p>\n
Trump expressed confidence that agreements would be reached in time to avoid higher tariffs.<\/p>\n
While discussions with Japan continue, Canada moved to calm tensions after reversing its decision to impose a Digital Service Tax (DST) on American technology<\/span> companies. Trump characterized trade in cars between the U.S. and Japan as unfair and floated the idea of keeping 25% tariffs on autos in place.<\/p>\n There is still some uncertainty over key details with regard to U.S.-China trade deal.<\/p>\n Meanwhile, a new trade agreement between the United States and the United Kingdom that reduces U.S. tariffs on British cars and aircraft parts officially came into effect today. <\/p>\n The pan European Stoxx 600 ended down 0.42%. The U.K.’s FTSE 100 closed 0.43% down, Germany’s DAX lost 0.51% and France’s CAC 40 drifted down 0.33%. Switzerland’s SMI lost 0.49%.<\/p>\n Among other markets<\/span> in Europe, Belgium, Denmark, Finland, Greece, Netherlands, Czech Republic, Norway, Poland, Russia, Spain and Turkiye closed higher. Austria ended flat.<\/p>\n In the UK market, Intermediate Capital Group, Barratt Redrow, Persimmon, Croda International, Taylor Wimpey, Experian, Spirax Group, Hikma Pharmaceuticals, Rentokil Initial, Mondi and Hiscox lost 1.6 to 4.2%.<\/p>\n Endeavour Mining climbed nearly 2.5%. Imperial Brands, Airtel Africa, Rolls-Royce Holdings, BAE Systems, Coca-Cola Europacific Partners and JD Sports Fashion gained 1 to 2%.<\/p>\n In the German market, Symrise closed nearly 7% down, and Bayer ended lower by about 5.3%. Deutsche Bank, Brenntag, Sartorius, BASF, Merck and Siemens lost 2.3 to 3.2%.<\/p>\n Volkswagen, BMW, Porsche, Commerzbank, Mercedes-Benz and Deutsche Post closed down 1.4 to 2%.<\/p>\n Zalando climbed more than 3% and Siemens Energy surged 2.7%. Puma, Rheinmetall and Infineon gained 1.3 to 2%.<\/p>\n In the French market, Stellantis lost about 3% and Renault closed nearly 2.5% down. Schneider Electric, Pernod Ricard, Saint Gobain, Veolia, LVMH and Dassault Systemes lost 1 to 2%.<\/p>\n L’Oreal climbed about 2.3%. Thales, Safran, Carrefour, Hermes International and Unibail Rodamco gained 1 to 1.6%.<\/p>\n Data from Destatis showed retail sales in Germany dropped by 1.6% month-over-month in May 2025, after declining by a downwardly revised 0.6% in April. Retail sales increased 1.6% in May over the sme month in the previous year.<\/p>\n Germany’s import prices fell by 0.7% month-on-month in May 2025, easing from a 1.7% decline in April. Import prices decreased by 1.1% year-on-year in May 2025, after April’s drop of 0.4%.<\/p>\n Germany’s consumer price inflation moderated unexpectedly in June to the lowest level in eight months, flash estimates from Destatis revealed.<\/p>\n Consumer price inflation slowed to 2% in June from May’s stable rate of 2.1%. Meanwhile, economists had expected inflation to rise to 2.2%. A similar increase was last seen in October 2024.<\/p>\n Core inflation, which excludes prices of food and energy, softened marginally to 2.7% in June from 2.8% a month ago.<\/p>\n Data showed that services costs registered a slower growth of 3.3% after a 3.4% rise. Similarly, the increase in goods costs eased to 0.8% from 0.9%.<\/p>\n Month-on-month, the consumer price index remained flat in June, following a 0.1% rise in May. Prices were expected to rise by 0.2%. <\/p>\n UK mortgage approvals increased for the first time so far this year in May, suggesting an improvement in housing market activity, figures from the Bank of England showed.<\/p>\n The net mortgage approvals for house purchases that indicate future borrowing rose by more-than-expected 2,400 to 63,000 in May. This was the first increase since December 2024 and also exceeded economists’ forecast of 61,000.<\/p>\n Approvals for remortgaging also increased in May, by 6,200 to 41,500. This was the largest increase since February 2024, data showed.<\/p>\n Net borrowing of mortgage debt by individuals rose by GBP 2.8 billion to GBP 2.1 billion, following a large decrease of GBP 13.8 billion to -GBP 0.8 billion in April. <\/p>\n<\/p>\n<\/div>\n
Iceland, Portugal and Sweden ended weak.<\/p>\n