European shares fell on Friday, led by losses in banks and mining-related stocks, with the STOXX 600 index down 0.5% for the day. This marks a marginal weekly fall.
The decline was also reflected in other regional indexes, including Germany’s DAX (-0.6%) and France’s CAC 40 (-0.8%). Spain’s benchmark index lagged behind with a 1.5% drop.
Basic resources, which includes metals such as copper, were among the worst performers, down 1.4%. This is due to falling prices of base metals.
In contrast, healthcare stocks fared better, advancing 1.1% thanks to gains from drugmakers like Novartis, Roche, and Novo Nordisk.
However, investors are cautious ahead of the July 9 deadline for trading partners to reach a deal with the US. The EU is pushing for an “agreement in principle” with the US, seeking immediate tariff relief in key sectors as part of any trade deal.
The July 4 report also mentions that US President Donald Trump will start sending letters to countries specifying what tariff rates they will face on imports to the US. This has investors taking a cautious stance, despite a strong start to the year for European shares.
Source: https://www.reuters.com/business/european-shares-edge-lower-us-tariff-deadline-looms-2025-07-04