European shares edge higher; investors eye trade developments
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European shares nudged higher on Tuesday, while uncertainty around trade deals remained a drag on sentiment.
With the July 9 deadline for countries to reach deals with the United States fast approaching, uncertainty about U.S. tariffs and their impact on global growth has kept investors on edge.
The EU is open to a deal that would apply a universal 10% tariff on many of its exports, but the bloc is seeking U.S. commitments to reduce tariffs in some key sectors, Bloomberg News reported on Monday.
EU's trade chief will hold negotiations this week in Washington to avert higher tariffs. European utility stocks led sectoral gains, rising 0.9%. Media shares fell 0.6%. On Tuesday, ECB President Christine Lagarde will join a panel with several other central bank chiefs, including the U.S. Fed chair, at the ECB forum in Sintra, Portugal.
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The pan-European STOXX 600 index advanced 0.2% at 542.42 points, as of 0708 GMT.
With the July 9 deadline for countries to reach deals with the United States fast approaching, uncertainty about U.S. tariffs and their impact on global growth has kept investors on edge.
U.S. President Donald Trump expressed frustration with U.S.-Japan trade negotiations on Monday as Treasury Secretary Scott Bessent warned that countries could be notified of sharply higher tariffs despite good-faith negotiations.
The EU is open to a deal that would apply a universal 10% tariff on many of its exports, but the bloc is seeking U.S. commitments to reduce tariffs in some key sectors, Bloomberg News reported on Monday.
EU's trade chief will hold negotiations this week in Washington to avert higher tariffs. European utility stocks led sectoral gains, rising 0.9%. Media shares fell 0.6%. On Tuesday, ECB President Christine Lagarde will join a panel with several other central bank chiefs, including the U.S. Fed chair, at the ECB forum in Sintra, Portugal.
Lagarde said on Monday that uncertainty is bound to remain a key feature of the global economy.
In the U.S., investors await a vote over Trump's sweeping tax-cut and spending bill.
Renault said it will report a loss of about 9.5 billion euros ($11.2 billion) on its stake in Nissan Motor in the first half. Shares of the French carmaker fell 1.2%.
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