FX.co ★ European Stocks Set to End the Week Lower

On Friday, both the STOXX 50 and STOXX 600 indices experienced declines of nearly 0.5%, as investor focus returned to global trade tensions with a critical deadline looming on July 9th. U.S. President Trump indicated that the country would commence sending official notifications to its trading partners, specifying the tariff rates applicable to their exports into the U.S. In parallel, EU-U.S. trade negotiations concluded in Washington without achieving significant progress. EU Trade Commissioner Maros Sefcovic affirmed that discussions would continue, aiming for a comprehensive and ambitious transatlantic trade agreement. Separately, China's Commerce Ministry declared the imposition of duties as high as 34.9% on brandy imports from the EU, effective from July 5th. Sector-wise, the downturn was widespread, with all sectors in negative territory except for telecommunications. The basic resources, technology, and automotive sectors were the hardest hit. For the week, both the STOXX 50 and STOXX 600 are poised to end with moderate losses.