European Stocks Closed Mixed After Cautious Session

(RTTNews) - European stocks turned in a mixed performance on Monday with investors closely following developments on the trade front, and continuing to react to quarterly earnings updates from big name European companies.

The mood remained somewhat cautious as markets awaited the policy announcements from the Federal Reserve and the Bank of England, due later in the week.

The Fed is widely expected to hold rates on Wednesday, while the BoE is likely to lower interest rates by 25 basis points.

On the trade front, U.S. President Donald Trump announced plans to impose a 100% tariff on movies produced outside the U.S., saying that the incentives offered by other countries to lure filmmakers is hurting the American film industry very badly.

"The Movie Industry in America is DYING a very fast death," Trump said in a post on Truth Social. "Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated."

Trump also told reporters on Sunday that he has no plans to talk to his Chinese counterpart Xi Jinping this week, offsetting recent optimism about a potential U.S.-China trade deal.

Several big name German companies, including Continental, Hugo Boss, BMW, Fresenius, Infineon, Puma, Heidelberg Materials, Commerzbank, are scheduled to announce their earnings updates this week.

The pan European Stoxx 600 edged up 0.16%. Germany's DAX climbed 1.12% and France's CAC 40 closed down 0.55%. Switzerland's SMI ended 0.17% down. The U.K. market was closed for Bank Holiday.

Among other markets in Europe, Austria, Belgium, Denmark, Finland, Greece, Italy, Norway, Portugal and Spain ended higher.

Czech Republic, Netherlands, Poland, Russia and Turkiye closed weak, while Sweden ended flat.

In the German market, Rheinmetall, Puma, Commerzbank, Munich RE, Hannover Rueck, Deutsche Bank, Beiersdorf, Covestro and Fresenius Medical Care gained 1.5 to 3.4%. Allianz, Bayer, Vonovia and MTU Aero Engines also ended notably higher.

BASF ended down more than 4%. Deutsche Post closed lower by about 3.2% and Zalando drifted lower by about 1.6%.

In the French market, Unibail Rodamco, Airbus, Eurofins Scientific and Edenred climbed 1.5 to 2.3%.

Kering dropped about 4.7%. Bouygues ended lower by more than 3%. AXA, Danone, Sanofi, Teleperformance and Schneider Electric also closed sharply lower.