European Shares Struggle For Direction In Cautious Trade

(RTTNews) - European shares struggled for direction on Monday as EU leaders prepare for a high-stakes showdown over U.S. tariff threats.

The Wall Street Journal reported that EU member states are pressing the European Commission to prepare countermeasures, including tariffs on U.S. goods, restrictions on digital services, and limits on public procurement access.

Overall losses, if any, remained limited as the ECB's quarterly Survey on the Access to Finance of Enterprises showed Eurozone firms remain optimistic about their growth prospects in the next quarter despite trade tensions.

The euro held its ground in the absence of high-tier data releases. The German yield curve flattened ahead of June euro zone PMI data and the European Central Bank's policy decision later this week, with economists expecting the central bank to leave interest rate unchanged.

The pan European STOXX 600 was marginally higher at 547.52 after ending flat with a negative bias on Friday.

The German DAX and the U.K.'s FTSE 100 were little changed with a positive bias, while France's CAC 40 slipped 0.1 percent.

In corporate news, Ryanair Holding shares surged over 6 percent. The airline's net profit more than doubled in its April-June quarter, thanks in part to higher fares and cost control.

Stellantis NV fell 1.3 percent. The automaker said it expects a net loss of 2.3 billion euros ($2.68 billion) for the first half of 2025 amid the early effects of U.S. tariffs.

Infrastructure firm Hochtief AG gained 1 percent after it won a €172m contract from German state company Deutsche Bahn.

Bayer AG rose about 1 percent as it secured EU approval for Nubeqa as third indication for metastatic hormone-sensitive prostate cancer.

Oil & gas giant BP Plc gained half a percent after naming Albert Manifold as its new chairman, succeeding Helge Lund.

Hunting, a precision engineering group, rose 2 percent on securing a $31 million order for Black Sea gas project.