European Markets React to Trade Tensions

Major European stock indexes closed mixed on Monday, as ongoing trade tensions between the European Union and the United States cast a shadow over the markets. US Commerce Secretary Howard Lutnick's remarks about the fixed August 1 deadline for a 30% baseline tariff added to the uncertainty, though he remained optimistic about reaching a deal with the EU before the deadline.

Stock Performance Highlights

The DAX remained flat by the close, while the FTSE 100 saw a modest gain of 0.21%, buoyed by Antofagasta's 4.71% climb. Conversely, the CAC 40 dipped by 0.31%, with Publicis Groupe falling 1.97%. The Euro Stoxx 50 wasn't spared, losing 0.34%, though BASF managed a 2.33% advance.

Currency Movements

In currency markets, the euro strengthened by 0.76% against the dollar, trading at $1.17128 by 5:33 pm CET. Similarly, the pound gained 0.71% against the dollar, reaching $1.35052 at the same time.

Earlier in the day, Ryanair's quarterly financial results were released, adding another layer to the day's financial narratives.