European stocks close mostly lower after EU-US trade deal

By Mucahithan Avcioglu

ISTANBUL (AA) - European stock markets ended Monday with losses, except for Italy, after the US and EU reached a trade deal imposing 15% tariffs on goods from the bloc entering the US.

The pan-European Stoxx Europe 600 index fell 0.22% or 1.19 points to close at 548.76.

Germany's DAX 40 fell 1.02% to 23,970.36 points, while the UK's FTSE 100 index lost 0.43% to 9,081.44.

France's CAC 40 index dropped 0.43% to 7,800.88 points.

On the other hand, Italy's FTSE MIB 30 index was slightly up 0.01% to close at 40,732.34.

The deal, announced on Sunday, will see the US impose a 15% import tariff on most EU goods, half of the threatened rate of 30%.

The bloc will also invest $600 billion in the US, and purchase $750 billion worth of American energy and military equipment.

US President Donald Trump said he thinks the deal will be "great" for both parties, bringing them "closer together."

European Commission President Ursula von der Leyen also praised the deal as the fruit of "tough negotiation," saying: "We have a deal; we have a trade deal between the two largest economies in the world, and it's a big deal."

Euro/dollar parity was traded at around 1.16 , down 1.2%, as of 1655GMT.