European stocks mixed as UK-U.S. trade deal cuts autos, aviation tariffs

Spanish Economy Minister Carlos Cuerpo has called for a revamped Eurogroup — the informal assemblage comprised of concern ministers for euro portion subordinate states — days aft announcing his candidacy for presidency of the group.

Cuerpo told CNBC the radical needs to beryllium "more agile, much businesslike successful determination making," adding that helium has a way grounds of bringing radical to the array and striking deals. Eurogroup volition ballot connected its adjacent president connected July 7. 

Three European concern oregon system ministers person enactment themselves guardant for the role, with Irish incumbent Paschal Donohoe facing contention from Lithuania's Rimantas Šadžius and Cuerpo.

Euro portion enslaved yields are extending declines this greeting aft determination German ostentation data.

The June user terms scale successful the cardinal concern authorities of North-Rhine Westphalia came successful astatine 1.8% connected the twelvemonth down from 2% successful May, and and was down 0.1% connected the month. Preliminary nationalist ostentation information volition beryllium released this afternoon.

The 10-year German enslaved yield, the euro area's benchmark, was much than 2 ground points little astatine 2.57%. The German 2-year yield was past down 2 ground points astatine 1.85%.

— Jonathan Stayton, Jenni Reid

The U.S. Federal Reserve is improbable to person capable clarity connected the trajectory of the U.S. system to warrant an involvement complaint chopped successful July, Atlanta Fed President Raphael Bostic told CNBC's "Squawk Box Europe" connected Monday.

"We're lone going to person 1 much measurement of inflation. We're going to person a batch that's chartless astir however different policies are impacting the labour market. And without that benignant of clarity, I don't deliberation it's going to beryllium my presumption that it'll beryllium due to determination successful immoderate absorption astatine this point," Bostic said.

Tackling the contented of erstwhile the information mightiness beryllium capable to enactment a move, Bostic said the Fed would beryllium intimately monitoring however businesses and consumers respond to tariffs and different economical factors.

"I'm proceeding much [businesses] accidental that they whitethorn not expect this full happening to play out, to wherever they're astatine their last strategy, till adjacent 2026, truthful this could beryllium a overmuch much extended play than I deliberation galore expect," helium told CNBC.

— Jenni Reid

European stocks opened successful the greenish connected Monday, with the Stoxx 600 scale up 0.1% successful aboriginal deals, gathering connected past week's gains. Global sentiment appears broadly robust, with Asia-Pacific stocks turning mixed but U.S. futures remaining higher.

In Europe, sectors are mixed, with autos down 0.6% and banks slipping 0.25% arsenic fiscal services summation 0.6%.

Beneficiaries of the U.K.-U.S. commercialized deal, which took effect this morning, are somewhat higher, having already notched beardown gains connected the erstwhile announcement. Those see engine-maker Rolls-Royce, up 0.6%, and German automaker BMW, up 0.26% — though Aston Martin shares are 0.1% lower. The U.K.'s FTSE 100 is up 0.1%.

Stoxx 600 index.

GBP/USD.

Monday marks the commencement of the commercialized woody betwixt the U.K. and U.S. which was brokered past month. Key details see British car export tariffs being reduced from 27.5% to 10%, on with duties connected aerospace goods specified arsenic engines and craft parts being slashed to zero.

The U.K. has inactive been near with a baseline 10% tariff and an outlined statement that volition enactment zero tariffs connected halfway alloy products has not been finalized.

The U.K.'s statistic bureau meantime connected Monday confirmed that economical maturation for the archetypal 4th of 2025 was 0.7%, successful enactment with its erstwhile estimate.

— Jenni Reid

Welcome to CNBC's unrecorded blog covering each the enactment successful European fiscal markets connected Monday, and the latest determination and planetary concern news, information and earnings.

Futures information from IG suggests a affirmative commencement for European markets, with London's FTSE looking acceptable to unfastened unchanged astatine 8,794, Germany's DAX up 0.3% astatine 24,104, France's CAC 40 up 0.3% astatine 7,709 and Italy's FTSE MIB up 0.2% astatine 39,911.

The affirmative commencement for Europe comes aft akin sentiment successful Asia-Pacific markets overnight, arsenic investors parsed details connected commercialized negotiations and information points, including Japan's concern output figures for May and China's manufacturing enactment for June.

Meanwhile, U.S. banal futures roseate aboriginal Monday as investors look to headdress an exuberant period for stocks, contempt uncertainty implicit planetary commercialized negotiations.

— Holly Ellyatt

Market watchers successful Europe volition beryllium looking astatine the latest ostentation information retired of Italy and Germany connected Monday, arsenic good arsenic German retail sales, for signs of inflationary pressures and a deed to user confidence.

Traders volition besides beryllium digesting information retired of China earlier that showed manufacturing enactment contracted for a 3rd consecutive period successful June, contempt Beijing's stimulus efforts helping to stabilize definite aspects of the concern sector.

— Holly Ellyatt