European stocks close higher as investors await U.S. trade deal developments

Stocks in green waiting for White House's trade deals

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.

WNS shares pop after Capgemini takeover announced

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{=null} in a $3.3 billion cash deal. WNS offers businesses technology outsourcing and analytics services.

Profit taking on RBC downgrade sends Currys lower 6%

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.

Daimler Truck's North America sales fall 20%

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.

Oil and gas stocks falter

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.

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Capgemini shares fall

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{=null} U.S.-listed WNS in a $3.3 billion cash deal.

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Shell lowers second-quarter gas output guidance, warns of weaker trading results

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 between 6.4 million and 6.8 million metric tons, also below a previous estimate of 6.3 million to 6.9 million metric tons.

Shell warned of “significantly lower” trading results in the second quarter, compared with the previous three-month period, for both its integrated gas division and its chemicals and products unit, where it anticipates to be “below break-even” over the period.

“We see the release as weak; the weaker trading performance was likely expected, however the trading update points to a significantly worse performance in the downstream than anticipated,” RBC Capital Markets analysts said in a note. “Shell has issued successive positive trading updates over the last couple of years, and it looks like the positive streak has been broken.”

Shell shares were down 2.18% at 08:13 a.m. London time after the release.

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European shares open mixed

We're 10 minutes into the first trading session of the week, and European stocks are trading in mixed territory.

The pan-European Stoxx 600 was last seen hovering just below the flatline, with no consensus movement among regional sectors.

Major bourses are also moving in opposite directions, with London's FTSE 100 down 0.1%, the French CAC 40 little changed, and Germany's DAX gaining 0.4%.

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Capgemini to buy WNS in $3.3 billion deal

French tech firm Capgemini announced on Monday that it will buy U.S.-listed WNS in a $3.3 billion cash deal.

That translates to $76.50 per share in the technology outsourcing firm — a 17% premium on its July 3 closing price.

Capgemini is aiming to capitalize on WNS' generative and agentic artificial intelligence offerings, which it said would attract significant investments.

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Octopus Energy reportedly plans Kraken demerger

The U.K.'s largest residential gas and electricity supplier, Octopus Energy, is planning a £10 billion ($13.6 billion) demerger of its technology arm Kraken, Britain's Sky News reported over the weekend.

The demerger is reportedly expected to take place within the next 12 months.

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China retaliates against EU ban with import restrictions on medical devices

China's Finance Ministry said on Sunday that it was restricting government purchases of medical devices from the EU if they exceeded 45 million yuan ($6.3 million). It's a retaliation against the bloc saying last month it would ban Chinese firms from competing for EU public tenders for medical devices worth more than 60 billion euros ($70 billion) a year.

Read more here.

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European stocks poised for mixed open

Good morning from a very gray London.

Europe-listed shares look set for a mixed open today. Futures tied to the regional Stoxx 50 were last seen trading 0.1% higher, while those tied to London's FTSE 100 and the German DAX were last 0.2% lower and 0.2% higher, respectively.

Futures tied to France's CAC 40 are around 0.3% lower this morning.

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Trump threatens extra 10% tariff on countries that align with ‘Anti-American’ BRICS policies

U.S. President Donald Trumphas threatened an additional 10% tariff on countries that orient themselves along the “Anti-American policies of BRICS.”

Trump's announcement, which did not elaborate on any specific policy of BRICS, came as the group's meeting is underway in Rio de Janeiro, Brazil.

The bloc's leaders took aim at Trump's sweeping tariff policies in a joint statement dated July 6, warning against “unjustified unilateral protectionist measures, including the indiscriminate increase of reciprocal tariffs.”