European Shares Struggle For Direction As Trade Talks Move Forward
(RTTNews) - European stocks struggled for direction on Monday as investors eyed progress in global trade negotiations ahead of the impending July 9 deadline for U.S. reciprocal tariffs.
Canada moved to calm tensions after reversing its decision to impose a Digital Service Tax (DST) on American technology companies.
U.S. President Donald Trump characterized trade in cars between the U.S. and Japan as unfair and floated the idea of keeping 25 percent tariffs on autos in place.
Elsewhere, 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.
In economic releases, German retail sales and inflation data are due later in the day.
The pan European STOXX 600 was marginally lower at 543.14 after climbing 1.1 percent on Friday.
The German DAX traded flat with a negative bias and the U.K.'s FTSE 100 slipped 0.1 percent while France's CAC 40 clung to marginal gains.
In corporate news, Skanska AB fell about 1 percent after announcing an investment of around SEK 700 million or CZK 1.6 billion in a new residential project called D.O.K. Radlice, located in Prague's Radlice district.
Defence technology firm Chemring gained 1 percent as it announced the acquisition of Landguard Nexus Limited for up to £20 million.
STMicroelectronics rallied 2.3 percent and Infineon Technologies climbed 1.8 percent after J.P. Morgan placed them on positive catalyst watch.
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