On Friday, the European stock market ended trading with a decrease. The pan-European STOXX 600 closed 0.5% lower, recording a slight weekly decline. The German DAX fell by 0.6%.
This was mainly driven by falling shares of banks. Stocks of mining companies in the region also declined due to pressure on the value of base metals. However, health care sector managed to limit losses. For instance, pharmaceutical companies Novartis, Roche, and Novo Nordisk showed growth.
Now, according to Reuters, investors' attention switches to the outcome of the negotiations between the United States and its trade partners, the deadline for which is scheduled for July 9. On Friday, US President Donald Trump announced Washington's plans to start sending out letters specifying tariff rates on shipments of goods to America.
The European Union has yet to reach an agreement with the United States. The EU is pushing for an “agreement in principle” before the deadline, demanding immediate tariff cuts in key sectors as part of any trade deal. This situation prompts investors to remain cautious. It will also determine the market dynamics this week, the agency notes.