On Monday, both the STOXX 50 and STOXX 600 indices opened positively but quickly relinquished their initial gains, stabilizing around the flatline as traders evaluated the progress of US trade negotiations. President Trump expressed confidence that agreements could be reached before the July 9 deadline, stating he does not anticipate extending it, thereby potentially avoiding increased tariffs. Meanwhile, the US is engaging in discussions regarding tariff terms with Japan, and Canada decided to withdraw its proposed Digital Services Tax after President Trump announced he would cease all trade talks with Canada. In addition, Monday marked the commencement of the UK-US trade deal formalized last month.
Investors' attention remains on inflation data emerging from Germany and Italy. In corporate updates, performance varied: L'Oréal rose by 0.8%, whereas SAP remained near the unchanged mark. In contrast, LVMH and ASML Holding experienced declines of 0.6% and 0.8%, respectively. For the month of June, both the STOXX 50 and STOXX 600 indices have decreased by 0.8%.
