China smartphone shipments slumped in June on inventory overhang: Jefferies
Investing.com - European stocks rose strongly Monday after the U.S. reached a trade agreement with the European Union, ending fears of a tariffs war between the two massive trading blocs and providing more clarity for corporations.
At 03:05 ET (07:05 GMT), the DAX index in Germany climbed 0.8%, the CAC 40 in France surged 1.2% and the FTSE 100 in the U.K. rose 0.5%.
EU-U.S. trade agreement
U.S. President Donald Trump announced a framework trade agreement with the European Union over the weekend, resulting in the imposition of a 15% import tariff on most EU goods, while committing the EU to invest some $600 billion in the United States.
The baseline 15% tariff, reached after discussions with European Commission President Ursula von der Leyen in Scotland, is above Europe’s initial hopes of securing a zero-for-zero tariff deal, but has still been welcomed as better than the threatened 30% rate.
The agreement now allows companies to plan for the future and averts a major bust-up between the two groups that account for almost a third of global trade.
The 15% rate matches an agreement with Japan made last week, as countries raced to reach trade agreements with the U.S. to avert the imposition of the hefty tariffs that were first announced on April 2.
The U.S. and China are set to resume talks in Stockholm on Monday in an attempt to smooth out economic disputes between the world’s top two economies.
The Financial Times reported earlier Monday that the U.S. has paused curbs on tech exports to China to avoid disrupting these talks.
Heineken helped by Africa/Asia growth
In the corporate sector, Heineken (AS:HEIN) reported a 7.4% rise in half-year organic operating profit, with the world’s second-largest brewer crediting growth in regions like Africa and Asia, even as its sales in Europe dragged and tariff risks increased.
Nordex (ETR:NDXG) Group secured 2.3 gigawatts of new projects in the second quarter of 2025, an increase of over 80% from the same period a year earlier, the wind turbine maker said.
More earnings from the likes of U.K. fintech Wise (LON:WISEa) and French-Italian eyewear maker EssilorLuxottica (EPA:ESLX) later in the session.
Fed, BOJ meet this week
On the economic front, there are few data releases of importance due in Europe Monday, but this week will see monetary policy meetings from the Federal Reserve and the Bank of Japan, as well as the monthly U.S. employment report.
Both the Fed and the BOJ are expected to maintain rates, and investors will be digesting comments from the officials as they seek guidance in gauging the future interest rate paths.
Crude rises on trade deal
Oil prices rose Monday, boosted by the news of a trade agreement between the U.S. and the European Union, relieving concerns of an economically damaging trade war.
At 03:05 ET, Brent futures climbed 0.8% to $68.18 a barrel, and U.S. West Texas Intermediate crude futures rose 0.8% to $65.71 a barrel.
The crude markets have gained support from the prospect of more trade deals between the United States and trading partners ahead of an August 1 deadline for new tariffs on goods from an array of countries.