Tariffs, Stoxx 600, FTSE, DAX

Stock markets in Europe rose, awaiting several trade deal announcements from the White House in the coming days.

The Stoxx Europe 600 index provisionally closed 0.4% higher. Regionally, France’s CAC 40 and Germany’s DAX were up 0.4% and 1.1%, respectively. Meanwhile, the FTSE 100 was the only major index to decline, by 0.2%.

Treasury Secretary Scott Bessent said Monday on CNBC’s “Squawk Box” that there would be several trade announcements over the next 48 hours, adding that he expects “it’s going to be a busy couple of days.” However, Bessent did not specify which countries would be involved.

— Ganesh Rao, Lisa Kailai, Han Sarah Min

Although Capgemini‘s shares have fallen more than 5% so far during today’s session, shares of its takeover target WNS are telling a different story.

WNS’s U.S.-listed stock was last seen 15.7% higher in pre-market trade, as investors reacted to the news that it would be bought by France’s Capgemini in a $3.3 billion cash deal. WNS offers businesses technology outsourcing and analytics services.

— Chloe Taylor

Currys plc shares retreated in the Monday session, after RBC Capital analysts downgraded the stock over its specular run this year.

Analysts at the investment bank said the London-listed stock had reached a “fairer” valuation after rising more than 30% this year, before the move lower by 5.5% on Monday as investors locked in the profits.

The RBC analysts pointed out that the stock was previously stuck in a downtrend in 2023 over its faltering and overleveraged business in the Nordics. But a turnaround plan, marked by the sale of a Greek subsidiary for 200 million euros ($235 million) in 2024 and a focus on profitable major markets like the U.K., attracted investors’ attention, sending the shares higher.

With shares trading at £1.24 as of Friday ($1.7) — an increase of about 180% from the lows of October 2023 — RBC downgraded Currys to “Sector Perform”, adding that the stock had reached a more “reasonable” valuation.

“Currys has a strong relative market position, some further self-help opportunities and is building what it calls more ‘stabilisers’ into the business, to reduce its macro and seasonal risk. This includes adding new products and more recurring revenues,” said RBC analyst Richard Chamberlain in a note to clients. “However, the discretionary nature of its assortment and its relatively low operating margins mean that its earnings outlook will remain sensitive to the macro.”

The company’s board also rebuffed attempts by activist investor Elliot Management to take over the firm for £0.67 ($0.84) per share in February 2024.

— Ganesh Rao

Daimler Truck reported a 20% drop in its North American business for the second quarter from last year, a trend that’s continued since early 2025.

The company said it recorded 13% growth in its Asia business, excluding China and India, and 5% growth in buses sold worldwide. In India and China, where it operates under the Mercedes-Benz Trucks brand, second-quarter sales fell by 0.5% from last year.

Shares have had a muted reaction and were up 0.6% at 10.50 a.m. in London.

The United States is the largest market by sales for Daimler Truck, with 38% of global sales, ahead of revenues of 11.3% from Germany, according to FactSet.

— Ganesh Rao

European markets have been open for almost an hour now, and oil and gas stocks are still leading regional losses.

The Stoxx Oil and Gas index was last seen trading 1.3% lower. Oil prices fell after the OPEC+ alliance agreed to a bigger-than-expected production increase.  

— Chloe Taylor

Shares of French tech firm Capgemini have tumbled to the bottom of the regional Stoxx 600 index, shedding 2.7% by 8:45 a.m. in London.

The drop is taking place after the company said it would acquire U.S.-listed WNS in a $3.3 billion cash deal.

— Chloe Taylor

Energy major Shell on Monday lowered its production guidance for its integrated gas division across the second quarter and warned of weaker results from its gas and chemicals trading units.

In a trading update released ahead of its second-quarter financial results, the firm said it now expects integrated gas output to be in a range of 900,000 to 940,000 barrels of oil equivalent per day (boe/d), compared with a 890,000 to 950,000 boe/d guidance for the period issued during the company’s first-quarter results outlook.

The world’s largest trader of liquified natural gas anticipates second-quarter LNG volumes to come in…