Stoxx 600, FTSE, DAX, CAC

European stock markets traded cautiously awaiting clarity over U.S. tariffs on the European Union.

The Stoxx Europe 600 index closed lower by 0.1%. Regionally, the U.K.’s FTSE 100 was up 0.2%, Germany’s DAX closed flat and France’s CAC 40 fell 0.3%.

— Ganesh Rao

London-listed companies issued 59 profit warnings in the second quarter of the year, professional services giant EY said in a new report published Monday.

It marked a 20% rise from a year ago.

Of those profit warnings, 46% cited policy change and geopolitical uncertainty as a major hamper to their outlook. That’s the highest level recorded for this cause since the EY-Parthenon report began more than 25 years ago — and a major rise from the 4% of U.K.-listed firms who issued geopolitics-related profit warnings in the second quarter of 2024.

— Chloe Taylor

UK consumer sentiment suffered its biggest fall in nearly 3 years last month, according to a survey from Deloitte, which highlighted growing concerns around persistently higher inflation and a slowing labor market.

Official data last week showed Britain’s unemployment rate rose to 4.7% in the three months to May, its highest since 2021. 

— Brittany Dawe

Ryanair’s Ireland-listed shares are around 6% higher in morning deals after the budget carrier reported 820 million euros ($954 million) in fiscal first-quarter profit after tax, well ahead of expectations of 716 million euros in an LSEG-compiled estimate.

Citi analyst Charles Armitage said the results were “very strong” in a Monday note, highlighting the airline’s “slightly better commentary on fares” in the full year.

European stock markets moved cautiously higher in early deals, with France’s CAC 40 and Germany’s DAX both up around 0.1%. The regional Stoxx 600 index had nevertheless already pared gains to trade at the flatline by 8:10 a.m. in London.

Autos stocks are down 0.6%, with Stellantis down 2.7% after announcing it expects a net loss of 2.3 billion euros ($2.68 billion) in the first half of the year due to pre-tax net charges and the early effects of U.S. tariffs.

British oil major BP on Monday announced Albert Manifold as its new chair, succeeding Helge Lund.

The London-listed company, which remains firmly in the spotlight as a prime takeover target, said Manifold will join the board on Sept. 1 and take over as chair from Oct. 1.

Manifold previously worked as CEO of CRH, the world’s largest building materials company, for 11 years through to the end of last year.

— Sam Meredith

Low-cost airline Ryanair boosted profit after tax to 820 million euros ($954 million) from 360 million euros in its fiscal first quarter, helped by timing of the Easter holiday and a slightly better-than-expected price environment, the carrier reported Monday.

Revenue rose 20% year on year to 4.34 billion euros, as ancillary revenue — fees derived from flight add-ons such as seat selection, food and drink and additional baggage — increased 7% to 1.39 billion euros.

Ryanair’s growth strategy has been stymied in recent years by ongoing delays in its large delivery of new Boeing 737 Max aircraft, amid strikes and safety concerns at the U.S. manufacturer. Ryanair CEO Michael O’Leary in May threatened to cancel his order for the aircraft if the tariff war between the U.S. and European Union leads to higher prices.

The airline said Monday it expected certification of the Max-10 variant in late 2025 and was planning for its first 15 deliveries in spring 2027, with a total 300 deliveries by March 2034. O’Leary meanwhile told an analyst call Monday there was “cautious optimism” that commercial aircraft may get a tariff exemption, and that the airline had agreed a “fixed purchase price” with Boeing and so did not expect to take a hit from the duties, according to a transcript.

It reiterated guidance for full-year traffic growth of 3% and said it was too early to provide firm profit guidance, but that it “cautiously” expected “reasonable net profit growth” as it recovers almost all of the prior fiscal year’s fare decline.

— Jenni Reid

Bitcoin extended its gains Monday, after coming off an eventful week.

As of 12.16 p.m. Singapore time (12.15 a.m. ET), the cryptocurrency had gained 0.21% against the greenback to $118,368.56.

Market watchers CNBC Pro spoke to remained bullish on bitcoin and saw potential for the cryptocurrency to climb even further in the rest of the year.

CNBC Pro subscribers can read the full story here.

— Amala Balakrishner

Good morning from London, and welcome to CNBC’s live blog covering all the action and business news in European financial markets on Monday.

Futures data from IG suggest a negative start to the new trading week for European bourses, with London’s FTSE 100 seen opening 0.1% lower, France’s CAC 40 down 0.3%, Germany’s DAX down 0.4%, and Italy’s FTSE MIB 0.35% lower.

European markets have been on tenterhooks since U.S. President Donald Trump announced earlier in July that he would impose a 30% tariff on goods imported from the EU starting Aug. 1. The EU has said it hopes to strike a trade deal before then but an agreement remains elusive.

On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the “hard deadline” for countries to start paying tariffs, although he also added that “nothing stops countries from talking to us after August 1.”

— Holly Ellyatt